Friday, August 4, 2023

Conservation Easements Are a State Tax Issue Too

Download (2)The California Franchise Tax Board has issued a notice that provides taxpayers with the opportunity to resolve potentially problematic syndicated conservation easement tax issues with reduced penalties. FTB Notice 2023-2 provides a closing agreement such taxpayers can use to take advantage of this opportunity, but they must do so by November 17, 2023. It is a helpful reminder that conservation easements may be a state tax issue for many taxpayers as well as a federal tax issue.

Hat tip: EO Tax Journal; Tax Notes.

Lloyd Mayer

https://lawprofessors.typepad.com/nonprofit/2023/08/conservation-easements-are-a-state-tax-issue-too.html

State – Executive | Permalink

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