South Carolina’s Conservation Tax Credit Program is designed to provide tax incentives to private “landowners who donate qualified land or conservation easements” to a “qualified conservation organization” to promote land stewardship in the state.

The program is part of the Conservations Incentive Act, a “law [that] allows a taxpayer who is entitled to and claims a federal charitable deduction for a gift of land for conservation or for a qualified conservation contribution (conservation easement) donated after May 31, 2001, to claim an income tax credit equal to 25% of the total value of the gift” (SCDR 2008). “The credit cannot exceed [US]$250 per [0.4 hectare (1 acre)] of covered property and the total credit used by a taxpayer may not exceed [US]$150,000”—increased from US$52,500 per year in 2012 (SCLSA 2011).

Unused conservation “credits may be carried forward until used” and “transferred, devised, or distributed with or without consideration, to another taxpayer upon written notification to, and approval of, the transfer by the Department” (SCDR 2008).

• South Carolina Legislative Services Agency (SCLSA). 2011. Bill Amendment. scstatehouse.gov/query.php?search=DOC&searchtext=Ann%25&category=LEGISLATION&session=0&conid=7054704&result_pos=2100&keyval=1190146&numrows=50.
• State of South Carolina Department of Revenue (SCDR). 2008. SC Revenue Procedure #08-1. conservesc.com/documents/SCTaxRevenueBulletin041508.pdf.

Amount of the Incentive
“The credit is equal to 25% of the value of the gift of land for conservation or the qualified real property interest associated with the qualified conservation contribution. The credit cannot exceed [US]$250 per [0.4 hectare (1 acre)] of property to which the qualified conservation contribution or gift of land for conservation applies. Additionally, the total credit claimed by a single taxpayer may not exceed [US]$150,000 per year.”

Keywords: tax relief