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Transferable Income Tax Credit For Preservation & Conservation Easements

14 Feb 2014 4:30 PM | Web Master (Administrator)

An important incentive for easement donations has been introduced via Maryland House Bill 789/Senate Bill 709 under consideration during this year’s General Assembly. Tax credits for qualified donated easements would be transferable and landowners who are corporations, trusts, limited partnerships or liability companies would be eligible to claim the credit as well as individuals or married couples. Unused credit could be credited against Maryland Estate taxes at the death of the owner.

This expansion of the existing Maryland income tax credit follows legislation passed in many other states for similar purposes. PLEASE CONTACT YOUR STATE SENATOR OR DELEGATE TO SUPPORT THESE BILLS.


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