Click here to read the newsletter. Here’s an excerpt:
Colorado Department of Revenue Issues Emergency Ruling on Gross Conservation Easements
On Wednesday, July 15, 2015, the Department of Revenue issued an emergency rule which explicitly adds nonprofits as a category of qualified taxpayers:
“A nonprofit corporation, regardless of whether it has unrelated business taxable income, can claim a gross conservation easement credit for a conservation easement donation it makes to a qualified organization; except that a nonprofit corporation which has a state governmental entity as a shareholder cannot claim such a credit.”
Thank you to everyone in the community who submitted valuable comments and feedback to the Department of Revenue. This is a wonderful outcome for conservation in Colorado!