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
- Big 'Cap Seems Like Olden Days
- Honor Code to Bypass Rebel, Run at Gulfstream
- Curlin, Asmussen Among Hall of Fame Finalists
- Judy the Beauty Leads Las Flores Shippers
- Riposte Heads Solid Hillsborough Field
- Portion of Vinceremos' Earnings to Charity
- Sweet Reason Comes Back a Winner
- Midshipman Colt Posts Fastest Ocala Drill
- Team Equest Designed to Attract New Owners
- Big 'Cap was 'Holy Grail' for Trainer Jones