Recent tax legislation reinstated an important business investment incentive and substantially increased another incentive program for Thoroughbred owners and breeders and farm owners.
There are a number of governmental and charitable programs for the purchase of development rights. In these programs, farm owners sell their development rights by placing a perpetual easement on the land restricting the rights of current and future owners to develop the land. When development rights are sold for less than the reduction in fair value resulting from restricting development on the land, a charitable income tax deduction may be available.
Most Popular Stories
- Social Inclusion to Move to Chad Brown
- Montana Jockey Seriously Injured in Spill
- Palace Malice Hoping to Continue His Roll
- Equibase Announces Redesigned Website
- Shadwell Turf Mile to Offer $1 Million Purse
- Ashford's Shanghai Bobby to Shuttle to Brazil
- RCI to Consider Horses-in-Training Rules
- 793 Cataloged for Tattersalls Ireland Sale
- Prominent Sire Beau Genius Dies at 29
- The Week in Photos for 7/29/2014