×
tax forms found in
Tax Form Code
Tax Form Name

Virginia Free Printable LPC-1 Schedule A - Application for a Land Preservation Credit Allocation Schedule and Calculation of Fee for 2020 Virginia LPC - 1 - Schedule A and Instructions - (Allocation Schedule and Calculation of Fee)

It appears you don't have a PDF plugin for this browser. Please use the link below to download 2019-virginia-form-lpc-1-sch-a.pdf, and you can print it directly from your computer.

LPC - 1 - Schedule A and Instructions - (Allocation Schedule and Calculation of Fee)
LPC-1 Schedule A - Application for a Land Preservation Credit Allocation Schedule and Calculation of Fee

Form LPC-1 Schedule A Application for a Land Preservation Credit Allocation Schedule and Calculation of Fee *VALPCA118888* • For an original Land Preservation Tax Credit derived from a donation by joint donors including married taxpayers, provide the information requested for each person or entity. Credit will be granted to one taxpayer per line per SSN / FEIN. • If you are a pass-through entity (such as an S corporation), provide the information requested for each person or entity receiving a credit amount. A separate Schedule A must also be completed for each pass-through entity receiving a credit amount. Enclose additional pages, if needed. • If the allocation is to more than 15 persons/entities, we recommend submitting a CD or disc. Please call (804) 786-2992 for disc format. • For a donation made on or before December 31, 2006, complete Section I (if applicable) and II. • For a donation made on or after January 1, 2007, complete Sections I (if applicable), II, and III (if applicable). Section I - Pass-Through Entity Information For a Pass-Through Entity, Name For a pass-through entity, do you have a tax matters representative?  No FEIN Phone Number Representative’s Phone Number  Yes (Enter name here) Original Credit Transaction Number (For Office Use Only) LP Section II - Credit Holder Information Credit Holder Information 1. 2. 3. 4. 5. Amount Name SSN / FEIN Street Address Entity Type City, State, ZIP Code Phone Number Name SSN / FEIN Street Address Entity Type City, State, ZIP Code Phone Number Name SSN / FEIN Street Address Entity Type City, State, ZIP Code Phone Number Name SSN / FEIN Street Address Entity Type City, State, ZIP Code Phone Number Name SSN / FEIN Street Address Entity Type City, State, ZIP Code Phone Number 00 00 00 00 00 Total Credit Amount Allocated Section III - Calculation of Fee (For donations made on or after January 1, 2007.) ( Not Applicable for Donations 1. Maximum fee that can be charged on this donation for allocations by the donor(s). Recorded on or after July 1, 2010 ) 2. Enter the amount of fee that has been previously paid by this donor(s) on this donation. ( Not Applicable for Donations 3. Line 1 minus Line 2. (If the amount is zero or less, stop here. No additional fee is due.) Recorded on or after July 1, 2010 $10,000 00 ) 4. Enter the total credit amount allocated, less any gifts. 5. Multiply the total credit amount allocated by 5% (Line 4 times .05). 6. Fee Due - For donations recorded from January 1, 2007 - June 30, 2010, enter the amount from Line 5 or Line 3, whichever is less; for donations recorded on or after July 1, 2010, enter the amount for Line 5. Va. Dept. of Taxation  4901040-W  Rev. 07/18 00 Instructions for LPC-1, Schedule A, Allocation Schedule and Calculation of Fee Lines not mentioned below are self-explanatory. This schedule should be used by multiple donors (including married spouses when both are on the deed) and passthrough entities to report the details of their credit allocations. A pass-through entity may appoint a Tax Matters Representative whom the Tax Commissioner may consult with regarding credits that have been allocated or transferred. This representative may be a general partner, a member, a manager or a shareholder. If a Tax Matters Representative has been appointed, check the “yes” box and enter the representative’s name and phone number in the appropriate boxes. • If you are a pass-through entity (such as an S corporation), provide the information requested for each person or pass-through entity receiving a credit. A separate LPC-1 Schedule A must be completed for each additional entity receiving a credit. • Enclose additional pages, if needed. • For a donation made on or before December 31, 2006, complete Section I (if applicable) and II. • For a donation made on or after January 1, 2007, complete Sections I (if applicable), II, and III. Please note multiple owners who are listed separately on the deed do not owe a fee. • If the allocation is to more than 15 persons/entities, we recommend submitting a CD or disc. Please call (804) 786-2992 for the required spreadsheet format. Section III – Calculation of Fee General Information This section must be completed for an allocation made by a pass-through of a credit which derived from a donation made on or after January 1, 2007. A 2% fee of the appraised value of the donated interest is imposed on all transfers arising from the sale of credits and on pass-through allocations. For deaths of credit holders who originally earned the credit that occur on or after July 1, 2018, the 2% transfer fee does not apply to credits transferred to a designated beneficiary or the next person who is eligible to receive the credit, according to the rules of intestate succession as described in Va. Code § 64.2-200. A pass-through entity is exempt from the 2% fee to the extent credits are distributed to nonresident owners and the pass-through entity applies such credits to the pass-through entity withholding tax. Credits distributed to resident owners and nonresident owners who are not subject to the passthrough entity withholding tax remain subject to the transfer fee. Because the statute relates the 2% fee to the donated interest and the credit is 40% of that figure, when calculating the fee at the credit level it equates to 5% of the credit amount being transferred or allocated. An example of the calculation is as follows: Scenario Presented in Va. Code § 58.1‑513 $10,000 (donated interest being transferred/allocated) x .02 (fee multiplier imposed by statute) $200 (fee dollars collected by statute) $10,000 (donated interest being transferred/allocated) Calculation of Credit Value x  .40 (credit multiplier imposed by statute) $4,000 (credit value of the donated interest) If $200 is the amount of fee collected at the donated interest level, what percentage of the credit value generates the same fee amount? Same Scenario Based on Credit Value $4,000(x) = $200 x = $200 / $4,000 x = .05 or 5% For donations recorded from January 1, 2007 - June 30, 2010, the fee is capped at $10,000 per credit holder per donation. For donations recorded on or after July 1, 2010, the cap has been removed. If you are transferring/allocating credits derived from more than one donation, you must file a separate LPC-1 Schedule A for the credits derived from each donation and your fees may exceed $10,000. This fee does not apply to transfers/allocations made in 2007 and beyond on donations made prior to January 1, 2007. The Department of Taxation recommends that you pay with a certified check or money order. Personal checks may delay the processing of your transfers/allocations.
Extracted from PDF file 2019-virginia-form-lpc-1-sch-a.pdf, last modified July 2018

More about the Virginia Form LPC-1 SCH A Other TY 2019

We last updated the LPC - 1 - Schedule A and Instructions - (Allocation Schedule and Calculation of Fee) in March 2020, so this is the latest version of Form LPC-1 SCH A, fully updated for tax year 2019. You can download or print current or past-year PDFs of Form LPC-1 SCH A directly from TaxFormFinder. You can print other Virginia tax forms here.

Related Virginia Other Forms:

TaxFormFinder has an additional 135 Virginia income tax forms that you may need, plus all federal income tax forms. These related forms may also be needed with the Virginia Form LPC-1 SCH A.

Form Code Form Name
Form LPC-1 Application for a Land Preservation Credit
Form LPC-1 SCH B LPC - 1 - Schedule B and Instructions - (Statement by the Recipient With Respect to Tax Credits of $1 Million or More From a Donation Made on or After
Form LPC-1 SCH C LPC - 1 - Schedule C and Instructions - (Statement by the Recipient With Respect to Tax Credits of $1 Million or More From a Donation Made on or After

Download all VA tax forms View all 136 Virginia Income Tax Forms


Form Sources:

Virginia usually releases forms for the current tax year between January and April. We last updated Virginia Form LPC-1 SCH A from the Department of Taxation in March 2020.

Show Sources >

Historical Past-Year Versions of Virginia Form LPC-1 SCH A

We have a total of eight past-year versions of Form LPC-1 SCH A in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2019 Form LPC-1 SCH A

LPC-1 Schedule A - Application for a Land Preservation Credit Allocation Schedule and Calculation of Fee

2018 Form LPC-1 SCH A

LPC-1 Schedule A - Application for a Land Preservation Credit Allocation Schedule and Calculation of Fee

2017 Form LPC-1 SCH A

LPC-1 Schedule A - Application for a Land Preservation Credit Allocation Schedule and Calculation of Fee

2016 Form LPC-1 SCH A

Form LPC-1 Schedule A - Application for a Land Preservation Credit Allocation Schedule and Calculation of Fee

LPC - 1 - Schedule A and Instructions - (Allocation Schedule and Calculation of Fee) 2015 Form LPC-1 SCH A

Sch A LPC-1 10 cap update 06 30 10.indd

LPC - 1 - Schedule A and Instructions - (Allocation Schedule and Calculation of Fee) 2014 Form LPC-1 SCH A

Sch A LPC-1 10 cap update 06 30 10.indd

LPC - 1 - Schedule A and Instructions - (Allocation Schedule and Calculation of Fee) 2013 Form LPC-1 SCH A

Sch A LPC-1 10 cap update 06 30 10.indd

2012 Form LPC-1 SCH A

Sch A LPC-1 10 cap update 06 30 10.indd


TaxFormFinder Disclaimer:

While we do our best to keep our list of Virginia Income Tax Forms up to date and complete, we cannot be held liable for errors or omissions. Is the form on this page out-of-date or not working? Please let us know and we will fix it ASAP.

** This Document Provided By TaxFormFinder.org **
Source: http://www.taxformfinder.org/virginia/form-lpc-1-sch-a