What Internal Revenue Service (IRS) tax status must private organizations meet in order to hold conservation easements?
Easement holders must be government entities or nonprofit corporations that qualify under Internal Revenue Code section 501 (c)(3) and also either IRC 170 (h)(3) or IRC 170 (b)(1)(A)(vi) organizations. (PRC 10221) The CFCP incorporates the Internal Revenue Code and Treasury Regulation requirement that a non-governmental easement holder must be: (1) an IRC 170 (b)(1)(A)(vi) publicly-supported charitable organization or an IRC 501 (c)(3) organization that is either an IRC 509 (a)(2) publicly-supported charitable organization, or (2) an IRC 509 (a)(3) public charity organization that is not publicly supported but is controlled by a government or a publicly-supported charity. (See Treas. Reg. 1.170A-14 (c)(1)).
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