Instructions for Form LPC-2 Notification of Transfer of Land Preservation Credit - Virginia

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

This document contains official instructions for Form LPC-2 , Notification of Transfer of Land Preservation Credit - a form released and collected by the Virginia Department of Taxation. An up-to-date fillable Form LPC-2 is available for download through this link.

FAQ

Q: What is Form LPC-2?A: Form LPC-2 is a document used for the notification of transfer of Land Preservation Credit in Virginia.

Q: What is Land Preservation Credit?A: Land Preservation Credit is a program that provides tax credits to landowners who participate in land preservation programs in Virginia.

Q: Who needs to file Form LPC-2?A: Form LPC-2 must be filed by the transferor and transferee involved in the transfer of Land Preservation Credit.

Q: What information is required on Form LPC-2?A: Form LPC-2 requires details about the transferor, transferee, the transferred credit, and a legal description of the property.

Q: Are there any filing fees for Form LPC-2?A: No, there are no filing fees associated with Form LPC-2.

Q: When should Form LPC-2 be filed?A: Form LPC-2 must be filed within 90 days of the transfer of the Land Preservation Credit.

Q: What happens after Form LPC-2 is filed?A: After Form LPC-2 is filed, the Virginia Department of Taxation will review the form and process the transfer of the Land Preservation Credit.

Q: Can Form LPC-2 be filed electronically?A: No, Form LPC-2 must be filed by mail or in person to the Virginia Department of Taxation.