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Virginia Free Printable Draft Form LPC-2 - Notification of Transfer of Land Preservation Credit for 2021 Virginia Notification of Transfer of Land Preservation Credit

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Notification of Transfer of Land Preservation Credit
Draft Form LPC-2 - Notification of Transfer of Land Preservation Credit

Virginia Form LPC-2 • Notification of Transfer of Land Preservation Credit *VALPC2118888* Credits derived from donations made on and after January 1, 2007, are not automatic, but must be reviewed by the Department of Taxation to ensure that the annual limitation is not exceeded. Some credit applications require review and approval by the Department of Conservation and Recreation before the Department of Taxation can act. • All credits, whether arising from donations before or after January 1, 2007, are subject to adjustment by the Department of Taxation upon audit. • To avoid delays at the time of annual return processing, Form LPC-2 should be filed by the credit holder within 90 days of the credit transfer, but at least 90 days before filing your annual return. • Mail form and payment to: Virginia Department of Taxation Tax Credit Unit P.O. Box 26544 Richmond, VA 23261-6544 For assistance, call: (804) 786-2992. The sale or transfer of tax credits may have income tax consequences for the credit holder and transferee. Consult an attorney, a tax professional, or the IRS. Section I – Current Credit Holder Information B) Credit Holder Identification Number SSN A) Credit Holder Name (Legal Name) FEIN C) Street Address or P.O. Box Number D) Contact Name, If Different From Above City State E) Phone Number F) Fax Number ZIP Code G) Email Address Section II – Declaration, Signature, and Notarization I (we) the undersigned declare, under the penalties provided by law, that this form (including any accompanying schedules and statements) has been examined by me (us) and is, to the best of my (our) knowledge and belief, a true, correct, and complete notification form, made in good faith pursuant to the income tax laws of the Commonwealth of Virginia. I (we) understand that the Department of Taxation will record the information submitted on this notification; however, acceptance of this notification form does not constitute certification, approval, or validation of the transfer or valuation of this credit by the Department of Taxation. If a person other than the taxpayer prepares this notification, their declaration is based on all information of which they have knowledge. I authorize the Department of Taxation to discuss my notification with the contact person listed in Section I, II or Schedule A and my broker, if applicable. In addition, I authorize the Department of Taxation to disclose to the transferee(s) of the credit any confidential tax information relevant to the eligibility and value of the credit transferred when such disclosure is necessary. Must Be Signed in Presence of Notary Signature of Credit Holder Signature of Credit Holder Print Name Print Name Title Date Title Date Notary Information Va. Dept. of Taxation  4901048- W  Rev. 06/18 Subscribed and sworn before me this ___________day of ____________________________, 20_____, in the (City/County) _____________________________, of Virginia. Notary Public Signature Date Notary Public Name Printed My Commission Expires Signature of Broker or Representative Address of Broker or Representative Print Name Broker FEIN Date Phone Number Office Use Only: Page 1 Form LPC-2 Schedule A Notification of Transfer of Land Preservation Credit Allocation Schedule and Calculation of Fee *VALPC2218888* • For donations made in 2007 and after, you cannot transfer credit(s) until the Department has issued you a credit. • The Department is unable to guarantee that any LPC-1 application received in December will be processed in time to make a transfer in that year. • If the original donation was made on or before December 31, 2006, complete Sections I, II (if applicable), and III. • If the original donation was made on or after January 1, 2007, complete Sections I , II (if applicable), III, and IV (if applicable). • Credits will be granted to one taxpayer per line per SSN/FEIN. • A separate LPC-2 must be completed for each credit holder who transfers credits. • If a credit is transferred to a pass-through entity, an additional Schedule A must be filed to allocate the credit to its owners. • Enclose additional pages, if needed. However, if the allocation/transfers are to more than 15 persons/entities, we recommend submitting a CD or disc. Please call (804) 786-2992 for disc format. • Include the Land Preservation transaction number on your check/money order (if applicable). Section I – Credit Information Current Credit Balance $ ______________________ .00 Amount of Credit to Be Distributed $ ______________________ .00 Original Credit Transaction Number (Required) Section II – Pass-Through Entity Information For a Pass-Through Entity, Name FEIN Phone Number For a pass-through entity, do you have a tax matters representative? No LP Representative’s Phone Number Yes (If Yes, Enter Name) Section III – Transferee Information Credit Amount Transferred Transferee Information Name (Legal Name) 1 2 3 4 Street Address Date of Credit Transfer SSN/FEIN Entity Type Fiscal Filer City, State, ZIP Code Sale Price of Credit Phone Number Name (Legal Name) Date of Credit Transfer SSN/FEIN Street Address Entity Type Fiscal Filer City, State, ZIP Code Sale Price of Credit Phone Number Name (Legal Name) Date of Credit Transfer SSN/FEIN Street Address Sale Price of Credit Phone Number Name (Legal Name) Date of Credit Transfer SSN/FEIN City, State, ZIP Code 00 Entity Type Fiscal Filer City, State, ZIP Code Street Address 00 00 Entity Type Fiscal Filer Sale Price of Credit Phone Number Total Amount of Credit Transferred Section IV – Calculation of Fee (For donations made on or after January 1, 2007.) 00 00 Check this box if you are a designated beneficiary of a credit holder who originally earned the credit or the next person eligible to receive unused credits according to the rules of intestate succession who is exempt from the 2% transfer fee. Enclose death certificate, will, bequest, or other instrument of transfer. See the Form LPC-2 instructions for additional information. Not Applicable for Donations 1. Maximum fee that can be charged on this donation for this credit holder. Recorded On or After July 1, 2010 $10,000 00 ( ) 2. Enter the amount of fee that has been previously paid by this credit holder on this donation. 3. Line 1 minus Line 2. (If the amount is zero or less, stop here. No additional fee is due.) Not Applicable for Donations (Recorded On or After July 1, 2010) 4. Enter the total amount of credit transferred or allocated, less any gifts. 5. Multiply the total amount of credit transferred 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. Page 2
Extracted from PDF file 2019-virginia-form-lpc-2.pdf, last modified June 2018

More about the Virginia Form LPC-2 Other Tax Credit

We last updated the Notification of Transfer of Land Preservation Credit in March 2020, and the latest form we have available is for tax year 2019. This means that we don't yet have the updated form for the current tax year. Please check this page regularly, as we will post the updated form as soon as it is released by the Virginia Department of Taxation. You can print other Virginia tax forms here.


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Other Virginia Other Forms:

TaxFormFinder has an additional 135 Virginia income tax forms that you may need, plus all federal income tax forms.

Form Code Form Name
Form R-5E R-5E - Nonresident Real Property Owner Exemption Certificate
Form 200 200 - Litter Tax Return and Instructions
Form PAR101 Power of Attorney and Declaration of Representative
Form R-5 R-5 - Nonresident Real Property Owner Registration Form
Form LPC-2 Notification of Transfer of Land Preservation Credit

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-2 from the Department of Taxation in March 2020.

Show Sources >

Form LPC-2 is a Virginia Other form. States often have dozens of even hundreds of various tax credits, which, unlike deductions, provide a dollar-for-dollar reduction of tax liability. Some common tax credits apply to many taxpayers, while others only apply to extremely specific situations. In most cases, you will have to provide evidence to show that you are eligible for the tax credit, and calculate the amount of the credit to which you are entitled.

Historical Past-Year Versions of Virginia Form LPC-2

We have a total of nine past-year versions of Form LPC-2 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2019 Form LPC-2

Draft Form LPC-2 - Notification of Transfer of Land Preservation Credit

2018 Form LPC-2

Form LPC-2 - Notification of Transfer of Land Preservation Credit

2017 Form LPC-2

Form LPC-2 - Notification of Transfer of Land Preservation Credit

2016 Form LPC-2

Form LPC-2 - Notification of Transfer of Land Preservation Credit

LPC - 2 - Notification of Transfer of Land Preservation Credit 2015 Form LPC-2

LPC-2 09 30 13.indd

LPC - 2 - Notification of Transfer of Land Preservation Credit 2014 Form LPC-2

LPC-2 09 30 13.indd

LPC - 2 - Notification of Transfer of Land Preservation Credit 2013 Form LPC-2

LPC-2 09 30 13.indd

2012 Form LPC-2

LPC-2 11 26 12 final.indd

2011 Form LPC-2

LPC-2 Final 07 13 10.indd


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