Continuation / Amendment - Virginia Historic Rehabilitation Tax Credit Program - Virginia

Continuation/Amendment - Virginia Historic Rehabilitation Tax Credit Program is a legal document that was released by the Virginia Department of Historic Resources - a government authority operating within Virginia.

FAQ

Q: What is the Virginia Historic Rehabilitation Tax Credit Program?A: The Virginia Historic RehabilitationTax Credit Program is a program that provides tax incentives for the rehabilitation of historic properties in Virginia.

Q: What does the program aim to achieve?A: The program aims to preserve and restore historic buildings and promote economic development in Virginia.

Q: Who can participate in the program?A: Property owners, developers, or investors who are rehabilitating historic properties in Virginia can participate in the program.

Q: What are the benefits of participating in the program?A: Participants in the program can receive tax credits equal to a percentage of qualified rehabilitation expenses incurred.

Q: What are qualified rehabilitation expenses?A: Qualified rehabilitation expenses include costs for the physical work done to rehabilitate a historic property.

Q: How can the tax credits be used?A: The tax credits can be used to offset income tax liabilities or sold to third parties.

Q: Are there any restrictions on the program?A: Yes, there are certain eligibility requirements and guidelines that must be followed to qualify for the tax credits.