Montana Farm and Ranch Risk Management Account (Form FRM)

December 26, 2023

An individual or a family farm corporation that has an eligible agricultural business may establish a Montana farm and ranch risk management trust account. Deposits made into this account can be subtracted from their adjusted gross income. However, the amount excludable from adjusted gross income depends on the business’ net income and cannot exceed $20,000.

Eligible agricultural businesses are ones that produce food, feed and fiber commodities and/or raise, grow or produce any of the following for commercial purposes: livestock, poultry, bees, biological control insects, fruits, vegetables and crops (sod, ornamental, nursery, horticultural). Eligible agricultural business also refers to silviculture and the raising of domestic animals and wildlife in domestication or a captive environment.