### Question
How does the law define qualified farming trade or business?


### Answer
Under *26 U.S.C. § 447*, **qualified farming trade or business** is defined as:

> the trade or business of farming—


(I) sugar cane,


(II) any plant with a preproductive period (as defined in section 263A(e)(3)) of 2 years or less, and


(III) any other plant (other than any citrus or almond tree) if an election by the corporation under this subparagraph is in effect

#### Citation:
  - *26 U.S.C. § 447*
  - Heading: **Subtitle A-Income Taxes > CHAPTER 1-NORMAL TAXES AND SURTAXES > Subchapter E-Accounting Periods and Methods of Accounting > PART II-METHODS OF ACCOUNTING > Subpart A-Methods of Accounting in General**

