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Preserve land and reduce your Georgia state income tax.
In 2006, Georgia created a state income tax credit for the voluntary protection of conservation land. Landowners who donate a conservation easement or a permanently protected piece of property to a qualified entity can qualify for a state income tax credit. The credit is worth up to 25% of the fair market value of the donation, and is capped annually at $250,000 for individuals, $500,000 for corporations, and up to $1 Million in aggregate for partnerships.
Transfer credits and realize the benefits of conservation today!
Beginning in January 2012, the conservation tax credit will become transferable. Meaning, landowners who choose to permanently protect their land and cannot personally utilize the state income tax credit, will be able to sell their credit to other Georgia resident taxpayers who want to reduce their state income tax liability.
It’s a win-win situation for conservation in Georgia. Landowner/sellers immediately receive cash which they can use to purchase more land, pay bills, save for retirement, etc. Credit buyers are able to significantly reduce their income tax burden while supporting land conservation in Georgia. Both credit sellers and credit buyers help to protect and sustain Georgia’s open spaces, working farms, wildlife habitat, water quality, and scenic vistas. It’s a public-private partnership that benefits the citizens of Georgia by protecting the natural resources that are so important to the quality of life we all enjoy. |
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Conservation Tax Transfer, LLC (CTT) provides expert comprehensive
transfer services for sellers and buyers.
We provide tax transfer services for landowner/sellers who want to sell their tax credits and for qualified buyers who want to purchase credits. We use our 23 years of conservation expertise to thoroughly review all of the required donation documents to ensure that the tax credits we accept for sale are quality tax credits.
How Does it Work?
Buyers and sellers complete and submit a registration form that establishes their priority in the queue. CTT will work with landowners during and after the donation process to complete and review the required documention for the donation. This includes completing and tracking the DNR Certification Application, which is required before a landowner can claim or sell the credit. As we receive documenation, we thoroughly review and work with the landowner to make sure all documention is complete and meets state and federal requirements. We will help you make any changes to your documents if they are needed. We will only accept credits for transfer that have met our rigorous review standards.
Once we have reviewed and accepted a credit for transfer, we match it with a qualified credit buyer. The seller, buyer, and CTT execute CTT’s Agreement to Purchase/Sell. The sale and transfer is completed by delivering the fully signed Agreement to each party and checks from the buyer to the seller. Sellers receive the going market rate for credits, buyers receive tax credits at a discounted rate and CTT receives a small transaction fee.
CTT provides the required tax filing paperwork.
After a credit is sold, we provide the required paperwork documenting the completed transaction for both sellers and buyers to file with their Georgia state income tax and federal returns. This includes providing Department of Revenue Form IT-CONSV and completing Form IT-TRANS. We will provide you and/or your accountant with all the necessary documentation for filing your taxes.
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