Virginia’s Land Preservation Tax Credit Program

Conservation Partners, LLC offers high-quality land preservation tax credits for purchase by risk-conscious Virginia individual and corporate income taxpayers.

Tax Credit Request Form

 

The Commonwealth of Virginia allows you or your business to purchase land preservation tax credits (LPCs) from Virginia landowners who have made charitable donations of land or easements for conservation purposes. Purchasing credits can provide you with significant tax savings while encouraging conservation of Virginia farms and other open spaces. Because of the ease of transfer and the attractive discounts, LPCs have become very popular with Virginia taxpayers.

Land and easement donors with unused credits may sell them, generally at a discounted price, to other Virginia taxpayers who then use them to offset their own Virginia income tax liability dollar-for-dollar. The purchaser realizes savings by purchasing credit at a discount and claiming the credit at its face value on the purchaser’s Virginia income tax return.

Conservation Partners, LLC works hard to make the purchase and use of land preservation tax credits quick and easy. Once credits are purchased by the taxpayer, Conservation Partners, LLC manages the post-closing clearing, transfer, and registration process through to completion. We then work with taxpayers providing support and information until they claim their credits. See Buyer Support.

Sample Transaction

Taxpayer expects to have at least a $10,000 Virginia income tax obligation when she files her 2014 Virginia income tax return in May 2015. She would like to offset $10,000 of her Virginia income tax with a purchased tax credit. She purchases her credit in October 2014 at a discounted price of 91 cents on the dollar. Note: the discount varies depending on market conditions. For current pricing see Request Tax Credit.

Credit purchased………………………………….$10,000

Credit purchase price……………………………..$9,100 (sample pricing only)

When Taxpayer uses the $10,000 credit on her Virginia income tax return in May 2015, Taxpayer realizes a savings.

Savings…………………………………………………. $900 (sample pricing only)