Vermont Land Trust - Tax Incentives for Easement Donations Extended through 2009!

Enhanced Tax Incentives for Easement Donations Extended through 2009!

Thanks to the hard work of Vermont’s congressional delegation, the 2008 Farm Bill brings to Vermont record levels of funding and wider access to conservation programs that have become crucial to Vermont’s economy and environment.

Of particular interest to Vermont landowners is the extension of tax incentives for easement donations.

This incentive is now effective through the end of 2009 and is retroactive to January 1, 2008. Landowners who donate a qualified conservation easement in 2008 or 2009 will be able to:

Increase charitable deductions of easement donors from 30% to 50% of their adjusted gross income (AGI) in the year of their gift. (Qualified farmers may deduct up to 100% of AGI.)
Increase the carryover any unused deduction for up to 15 years instead of only 5 years.

Read our technical bulletin for more detailed information on these incentives.

Other key Vermont conservation priorities in the Farm Bill include:

increased funding and wider access to farmland conservation programs
funding for agricultural land management such as improving water quality and erosion control
assistance for producers of agricultural products to obtain organic certification
funding for some on-the-farm-energy production
a new community forestry and open space conservation program which will provide matching funds for those trying to acquire town forests

Charron Farm barn & silos