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
- American Cleopatra Entered at Del Mar
- Nyquist, Exaggerator Renew Rivalry in Haskell
- Lady Eli Pointed to Aug. 27 Ballston Spa
- Alsvid Takes on Lord Nelson in Bing Crosby
- Bradester Towers Over Monmouth Cup Field
- Exaggerator to Run in Haskell
- Shuvee Class Drop for Grade I Winner Curalina
- Litfin at Large: Jim Dandy Saturday
- Mountaineer's Leading Trainer Suspended
- Stellar Wind to Challenge Beholder Again