Senator Mike Bernskoetter's Legislative Column for the Week of Feb. 9, 2026

Friday, February 13, 2026




Fixing the Beginning Farmer Tax Credit


This week the Senate perfected and passed several bills to be sent over to the Missouri House of Representatives. In particular, Senate Bill 994, presented by one of my colleagues, helps smooth out the filing of tax returns. It will require the Missouri Department of Revenue to notify taxpayers if a tax credit runs out, and give them 60 days to pay back the tax credit before fees and fines are applied rather than simply applying them immediately before the taxpayer has a chance to settle their accounts. It also ties the state tax filing deadline to the federal one, so that there is no confusion if the federal tax date needed to be shifted as was the case during the Covid pandemic. 

In addition, an amendment was added to the bill to fix a problem with the Beginning Farmer Income Tax Deduction. This deduction helps farmers more easily pass on their farms to new farmers without suffering from massive capital gains tax. However, there are many family farms that were not included in the bill because they are structured as a corporate business rather than as an individual. This amendment simply changes a word in the bill from “individual” to “taxpayer.” A small change, but with far-reaching impacts that will allow farmers to more easily pass on and sell their farms. 

I supported the initial bill that created this important tax deduction years ago, and I support this amendment today. I always look out for farmers and support any piece of legislation that will help them. 

Please feel free to contact my office at 573-751-2076. For information about my committee assignments or sponsored legislation, please visit my official Missouri Senate website at senate.mo.gov/Bernskoetter.