Delaware Land and Historic Resource Tax Credit
A business or individual may take an income tax credit for permanent gifts of land or interest in land to public agencies and qualified private non-profit charitable organizations. The tax credit is based on 40% of the appraised fair market value of the gift. The credit is limited to $50,000 and cannot exceed the tax due. Unused portions of the $50,000 credit can be carried forward for up to five (5) consecutive years.
Eligibility
Only those taxpayers whose eligibility is certified by the Department of Natural Resources and Environmental Control may claim this credit. A Division of Revenue approval letter must be attached to your Delaware Return.
(Non)Refundable
Non Refundable
How To Claim
Complete Form 700 and file with state tax return Form 200-01
Land and Historic Resource Tax Credit