Tax Credit Connection, Inc.

Nonprofits Officially Qualify for Tax Credits

Private citizens aren’t the only landowners with land that has important conservation values – non-profits own hundreds of camps, retreats and wildlife sanctuaries around the state that have been providing scenic vistas, housing wildlife and protecting biological diversity.

After more than a year of relying on a private letter ruling to encourage non-profits to donate conservation easements, the Colorado land conservation community got some welcomed news late yesterday. The Department of Revenue has initiated emergency rule making to officially declare non-profits eligible for Colorado tax credits. This comes after a somewhat concerning meeting this May where the staff of Revenue expressed that they may have erred in the private letter ruling and considered reversing the decision.

Thanks to the great work of land trusts, local governments, attorneys, appraisers, tax credit brokers, and the Colorado Coalition of Land Trusts, Revenue received overwhelming comments encouraging non-profits to be recognized as taxpayers.

Please see our article that can be shared with non-profit organizations that have land with strong conservation values and click here for a link to the Colorado Coalition of Land Trusts site that includes a link to the language of the rule.

Time to uncork the champagne!