What if the property is owned by a mixture of individuals and S-Corporations / Partner-ships?
The Application is designed for Landowner information for the following scenarios: • One or more individuals or a Corporation owns the property • One S-Corporation or Partnership owns the property and passes the Tax Credit to its shareholders/partners • One S-Corporation or Partnership owns the property and passes the tax credit to another S-Corporation/Partnership, who then passes the credit to individual shareholders/partners. (Additional nesting is possible.) • The property is co-owned by one S-Corporation/Partnership AND individual(s). The S-Corp/Partnership passes its portion of the tax credit to its shareholders/partners. • Two or more S-Corporations/Partnerships split the property ownership; all tax credit gets passed to their shareholders/partners. For any ownership scenarios more complex than those described above please contact your local VDOF Forester for assistance.
Related Questions
- Do you allow individuals to purchase property at the Tax-Defaulted Land Sale without attending the auction via mail, phone or fax? Can I send a representative to the sale to bid for me?
- I lease my property to a group of individuals for hunting. Am I required to let them hunt all species within the bag limits for my county as listed in the Outdoor Annual?
- What if the property is owned by a mixture of individuals and S-Corporations / Partner-ships?
