Document Number

Property 46014-317 ( March 14, 2000)

Journal

If previous farmland was leased to another person or by surrogate cultivator, it does not constitute substitute soil for non-taxable farmland.

Congress RESALS

Since the requirements for substitute farmland should be applicable to both the previous farmland and the newly acquired farmland that are cultivated by the transferor, if the previous farmland was leased to another person or by surrogate cultivator, the provisions for non-taxation of capital gains tax on substitute farmland shall not apply.

Related statutes

[Non-taxable Transfer Income]