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Riparian Waterway Buffer Credit
Individuals and corporations may qualify for an income tax credit of 25% of the value of the timber on an area designated as a riparian buffer for a waterway. The credit may not exceed $17,500 or the total amount of tax, whichever is less. To claim the credit taxpayers must apply to the State Forester who is responsible for determining the value of the area and providing a certification of such value for purposes of claiming the credit. The application may be made on-line at www.dof.virginia.gov or at the local Forestry office. The certification must be attached to the Virginia return. A riparian buffer is land adjacent to a waterway on which timber may be harvested. In order to receive the credit, the owner of such land must refrain from harvesting such timber. The distance from the waterway to the most distant end of the riparian buffer must be at least 35 feet and no more than 300 feet. The buffer must remain in place for at least fifteen years. The land that is the subject of this credit cannot be the subject of this credit again for fifteen years after it was first taken. The credit may be carried over for the succeeding five taxable years. For more information contact:
Virginia Dept. of Forestry Phone: 434-977-6555
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