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
- Albarado Fractures Ankle, Off J Boys Echo in Derby
- Santa Anita Cancels April 27 Racing
- Pricey Filly Tops OBS Pinhook Prospects
- Dolphus Outruns Quality Field at Aqueduct
- Reach the World Euthanized After Training Injury
- J Boys Echo Breezes Five Furlongs at Churchill
- Party Boat Upsets Fifty Five in Memories of Silver
- Imperative Repeats in Charles Town Classic
- Southern Ring Speeds to Whimsical Victory
- Collected Impresses Again in Californian