Delaware Tax Credits - Land and Historic Resource Conservation - Application and Computation Schedule

Tax Credits - Land and Historic Resource Conservation - Application and Computation Schedule
12_1801AC_1
STATE OF DELAWARE
FORM 1801AC 0009

D IV ISIO N O F REV EN U E
8 2 0 N o rt h F re n c h St .
P .O . Bo x 8763
W ilm ., DE 19899- 8763

APPLICATION AND COMPUTATION SCHEDULE FOR CLAIMING
DELAWARE LAND & HISTORIC RESOURCE CONSERVATION TAX CREDITS

FORM 1801AC MUST BE COMPLETED AND SUBMITTED ON OR BEFORE JANUARY 31ST AFTER THE END OF THE CALENDAR
YEAR DURING WHICH THE QUALIFIED LAND WAS CONVEYED TO A QUALIFIED CONSERVATION AGENCY.
PART A - NAME AND ADDRESS OF APPLICANT
1. Enter Federal Employer Identification Number
1 ---

or

Tax Period Ending Date

Social Security Number

2 ---

2. Type of Entity:
Estate/Trust

CCorporation

SCorporation

Partnership

Decedent Estate

Other Pass-Through Entity:

Individual/Sole Proprietor

(Enter type of entity)
3. Name of Applicant
4. Address
City

State

Zip

State

Zip

5. Delaware Address
(If different from above)

City
6. Contact Person

Telephone Number
E-mail Address
FaxNumber
PARTB– DELAWARELAND &HISTORICRESOURCECONSERVATION TAXCREDITCOMPUTATION
1.

Fair Market Value of Qualified Land Conveyed to a Qualified Conservation Agency
(Please attach a copy of the formal appraisal)

2.

Multiply Line 1 by 40%

3.

Delaware Land & Historic Resource Conservation Tax Credit Before Limitation

$

4.

Maximum Amount of Credit

$

5.

Delaware Land & Historic Resource Conservation Credit. Enter the Smaller of Line 3 or Line 4.

$

$

_________________

.40
_________________

50,000
_________________

STOP: IF THE TYPE OF ENTITY APPLYING FOR THE CREDIT IS:
• C CORPORATION – Enter the amount from Line 5 on Form 700, Delaware Income Tax Credit Schedule, Line 17(a).
• S CORPORATION – Multiply the amount on Line 5 by the percentage of stock owned by each shareholder. Enter the result on Form 700, Delaware Income
Tax Credit Schedule, Line 17(b).
• PARTNERSHIP – Multiply the amount on Line 5 by the percentage ownership of each partner. Enter the result on Form 700, Delaware Income Tax Credit
Schedule, Line 17(c).
• INDIVIDUAL & SOLE PROPRIETOR – Enter the amount from Line 5 on Form 700, Delaware Income Tax Credit Schedule, Line17(d).
• RESIDENT & NONRESIDENT ESTATES & TRUSTS – Multiply the amount on Line 5 by the percentage share of each beneficiary. Enter the result on Form
700, Delaware IncomeTax Credit Schedule, Line17(e).
• RESIDENT & NONRESIDENT DECEDENT ESTATES – Enter the amount from Line 5 on Form 700, Delaware Income Tax Credit Schedule, Line17(f).

THE TOTAL AMOUNT OF CREDITS APPROVED BY THE DIRECTOR WITH RESPECT TO ALL APPLICANTS FOR THE DELAWARE LAND & HISTORIC
RESOURCE CONSERVATION TAX CREDITS SHALL NOT EXCEED $1,000,000 IN ANY CALENDAR YEAR. IF THE AMOUNT OF DELAWARE LAND &
HISTORIC RESOURCE CONSERVATION TAX CREDITS FOR WHICH ALL TAXPAYERS APPLIED IN ANY CALENDAR YEAR EXCEEDS $1,000,000, THEN
THE DELAWARE LAND & HISTORIC RESOURCE CONSERVATION TAX CREDITS TO BE RECEIVED BY EACH APPLICANT SHALL BE THE PRODUCT OF
$1,000,000 MULTIPLIED BY A FRACTION, THE NUMERATOR OF WHICH IS THE ELIGIBLE DELAWARE LAND & HISTORIC RESOURCE CONSERVATION
TAX CREDIT APPLIED FOR BY THE APPLICANT AND THE DENOMINATOR IS THE TOTAL OF ALL ELIGIBLE DELAWARE LAND & HISTORIC RESOURCE
CONSERVATION TAX CREDITS APPLIED FOR BY ALL APPLICANTS.

NAME
Revised 12/31/13

TITLE

DATE

*DF41713019999*

GENERAL INSTRUCTIONS FOR COMPLETION OF
FORM 1801AC 0009 

The Delaware State Historic Preservation Office must first approve the Delaware historic property. After receiving a Certificate of Completion from
the Delaware State Historic Preservation Office, Delaware Form 1811AC must be completed by the taxpayer and sent, along with the Certificate of
Completion, to the Delaware Division of Revenue for tax credit approval. After receiving tax credit approval from the Delaware Division of
Revenue, the approved amount of credit must be transferred to the appropriate line on Delaware Form 700. Delaware Forms 700 and
1811AC must be attached to each annual income tax return approved for the credit. If you need assistance completing this form, please
contact Delaware Division of Revenue, 820 N. French Street, Wilmington, DE 19801, email at [email protected]

SPECIFIC INSTRUCTIONS
PART A - NAME AND ADDRESS OF APPLICANT
Line 1. Enter the Federal Employer Identification or Social Security Number of the person or entity applying for the credit and the tax year ending
date in which the credit is being claimed.
Line 2. Select the type of entity that is claiming the credit.
Line 3. Enter the name of the person or entity claiming the credit.
Line 4. Enter the address of the person or entity claiming the credit.
Line 5. Enter the location of the qualified historic property, if different from Line 3.
Line 6. Enter the name of the person responsible for completing Form 1811AC. Also include the telephone number, fax number and e-mail
address of the person.
PART B – COMPUTATION OF THE DELAWARE LAND & HISTORIC RESOURCE CONSERVATION TAX CREDIT
Line 1. Enter the fair the market value of the qualified land conveyed to a qualified conservation agency. Please attach a copy of the formal
appraisal of the qualified land. Please identify the qualified conservation agency to which the land is being conveyed.
Line 2. The percentage of the fair market value of the qualified land to be tax deductible.
Line 3. Multiply Line 1 by Line 2. This is the Delaware Land and Historic Resource Conservation tax credit before credit limitation.
Line 4. Maximum amount of credit.
Line 5. This is your Delaware Land and Historic Resource Conservation Tax Credit. Enter the smaller of Line 3 or Line 4.
STOP: IF THE TYPE OF ENTITY APPLYING FOR THE CREDIT IS:
•
•
•
•
•
•

C CORPORATION – Enter the amount from Line 5 on Form 700, Delaware Income Tax Credit Schedule, Line 17(a).
S CORPORATION – Multiply the amount on Line 5 by the percentage of stock owned by each shareholder. Enter the result
on Form 700, Delaware Income Tax Credit Schedule, Line 17(b).
PARTNERSHIP – Multiply the amount on Line 5 by the percentage ownership of each partner. Enter the result on Form
700, Delaware Income Tax Credit Schedule, Line 17(c).
INDIVIDUAL/SOLE PROPRIETOR: Enter the amount from Line 5 on Form 700, Delaware Business Tax Credit
Schedule, Line 17(d).
RESIDENT & NONRESIDENT ESTATES & TRUSTS – Multiply the amount from Line 5 by the percentage share
of each beneficiary. Enter the result on Form 700, Delaware Income Tax Credit Schedule, Line 17(e).
RESIDENT & NONRESIDENT DECEDENT ESTATES – Enter the amount from Line 5 on Form 700, Delaware
Income Tax Credit Schedule, Line 17(f).

THE TOTAL AMOUNT OF CREDITS APPROVED BY THE DIRECTOR WITH RESPECT TO ALL APPLICANTS FOR THE DELAWARE LAND &
HISTORIC RESOURCE CONSERVATION TAX CREDITS SHALL NOT EXCEED $1,000,000 IN ANY CALENDAR YEAR. IF THE AMOUNT OF
DELAWARE LAND & HISTORIC RESOURCE CONSERVATION TAX CREDITS FOR WHICH ALL TAXPAYERS APPLIED IN ANY CALENDAR
YEAR EXCEEDS $1,000,000, THEN THE DELAWARE LAND & HISTORIC RESOURCE CONSERVATION TAX CREDITS TO BE RECEIVED
BY EACH APPLICANT SHALL BE THE PRODUCT OF $1,000,000 MULTIPLIED BY A FRACTION, THE NUMERATOR OF WHICH IS THE
ELIGIBLE DELAWARE LAND & HISTORIC RESOURCE CONSERVATION TAX CREDIT APPLIED FOR BY THE APPLICANT AND THE
DENOMINATOR IS THE TOTAL OF ALL ELIGIBLE DELAWARE LAND & HISTORIC RESOURCE CONSERVATION TAX CREDITS APPLIED
FOR BY ALL APPLICANTS.