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Tax Benefits of Conservation
Tax benefits for conservation easements or other donations are unique to each taxpayer's situation and depends on many factors including donation value, adjusted gross income, etc. LOLT does not provide tax advice to landowners and highly recommends consulting financial advisors when considering potential or actual tax benefits of such donations.
As of January 1, 2010 the Tax benefit reverted back to the 2005 status, whereby federal deductions can be up to 30% of the landowner's AGI in the year of the easement gift. Any unused deduction may be carried forward for five additional tax years.
The following links provide additional information pertaining to tax benefits:
- Land Trust Alliance Tax Policy for Land Conservation. Provides up to date information on federal tax incentives and other tax policies for conservation easements.
- The South Carolina Conservation Incentives Act: An Innovative Approach to Conservation by LOLT's President Scott Barnes and Senator Chip Campsen. Includes a summary of tax incentives for South Carolina with brief example calculations.
Local, State and Federal Tax Incentives for Conservation Easements, 3rd ed. 138 pages. An extensive and inclusive resource written by Governor Mark Sanford and SC Dept. of Revenue.