top of page

Tax Credits Available for BMPs and Related Equipment

Updated: Jan 6, 2022


The 2021 Virginia General Assembly and Governor significantly increased tax credits for agricultural best management practices (BMPs) and related equipment in the Commonwealth. The new tax law came into effect on July 1, 2021 and is retroactive back to January 1, 2021 to include all qualified BMPs and eligible equipment purchases completed this calendar year.


The agricultural BMP tax credit has been split into a two-tiered system for the first time. The standard credit for participants with an approved soil Conservation Plan at their local Soil and Water Conservation District can be taken on 25% of the out-of-pocket costs for installing qualifying agricultural BMPs as outlined in the Virginia Agricultural BMP Cost-Share Program (VACS) Manual found here: https://consapps.dcr.virginia.gov/htdocs/agbmpman/agbmptoc.htm. The cap for this credit has been raised from $17,500 to $25,000 per taxpayer. Additionally, for those taxpayers with an approved Resource Management Plan (RMP), they can claim an additional 50% tax credit on out-of-pocket costs up to $50,000 for agricultural BMPs implemented on RMP acreage. This means that some Virginia producers may be eligible for up to $75,000 in agricultural BMP tax credits!

The agricultural equipment tax credit meanwhile provides a 25% tax credit on out-of-pocket expenses, up to $17,500 per taxpayer, for eligible no-till or precision agricultural equipment as defined in the VACS Manual. It is important to note that in order to claim the credit, producers must have an approved soil Conservation Plan at their local Soil and Water Conservation District and must be implementing a Nutrient Management Plan.


While all of these changes provide fantastic opportunities for producers, it is important to note that the Virginia Department of Taxation (TAX) also has created new application forms for both credits and will require a suite of supporting documentation for each. Due to a statewide cap on agricultural BMP tax credits of $2 Million, TAX has established a firm deadline of April 1 for accepting applications. If more than $2 Million in eligible applications are received, tax credits will be prorated. Applications for the agricultural equipment credits on the other hand do not have a set calendar deadline, but must be turned in at least 90 days before the return upon which the tax credit will be claimed is due.


Producers interested in further information on these credits, the application process and required supporting documentation can view an on-demand training webinar hosted by the Virginia Department of Recreation at: https://www.youtube.com/watch?v=Uv5_XqYCNj0. Partnering organizations of the Soil Health Coalition can feel free to contact David Bryan, Agricultural Incentives Program Manager at DCR, for more information: david.bryan@dcr.virginia.gov. Producers should utilize the training above or coordinate with their tax preparer and the Virginia Department of Taxation if they have any more questions.



(Photo courtesy of Virginia NRCS)

372 views57 comments

57 Comments


TilesAdhesive Shop stands as the premier tile grout company in India, renowned for our dedication to quality and excellence. With a comprehensive range of grout solutions tailored to meet various needs, we cater to the requirements of professionals and homeowners alike. Trust in our expertise to deliver results that exceed expectations and elevate your projects to new heights.


https://www.linkedin.com/company/tiles-adhesive-india/ 

https://www.linkedin.com/company/epoxy-grout-india/ 

https://www.linkedin.com/company/wall-putty-india/ 

https://medium.com/@tileadhesiv3345/best-tile-adhesive-india-f405099d9573 

https://besttileadhesivecompanyinindia.blogspot.com/2024/04/besttile-adhesivecompany-in-india.html 

https://besttileadhesiveforwalltilesinindia.mystrikingly.com/ 

https://sites.google.com/view/best-tile-adhesive-for-floor-t/ 

https://www.onecooldir.com/details.php?id=250018 

https://www.webguiding.net/Best%C2%A0Tile-Adhesive%C2%A0India%C2%A0_260056.html 

https://www.gowwwlist.com/Best%C2%A0Tile-Adhesive%C2%A0India%C2%A0_247385.html 

https://www.bizz-directory.com/gosearch.php?q=Best+Tile+Adhesive+Company+in+India&search-btn2.x=22&search-btn2.y=12 

https://www.azure-directory.com/gosearch.php?q=Best+Tile+Adhesive+Company+in+India+&x=36&y=17 

https://www.aurora-directory.com/gosearch.php?q=+Best+Tile+Adhesive+For+Wall+Tiles+in+India&x=0&y=0 

https://www.arcticdirectory.com/gosearch.php?q=Best%C2%A0Tile+Adhesive+For%C2%A0Wall+Tiles%C2%A0in+India 

https://www.alive2directory.com/gosearch.php?q=Best+Tile+Adhesive+For+Floor+Tiles+in+India 

https://www.brownedgedirectory.com/gosearch.php?q=Best+Tile+Adhesive+Company+in+India 

https://www.bluesparkledirectory.com/gosearch.php?q=+Best+Tile+Adhesive+For+Floor+Tiles+in+India 

https://wakelet.com/@besttileadhesiveindia78742 

https://www.pearltrees.com/besttileadhesiveindia 

https://www.thebostoncalendar.com/user/78971 

https://coolors.co/u/besttileadhesiveindia 

https://www.projectlibre.com/users/besttileadhesiveindia 

https://www.runnerspace.com/profile.php?member_id=699227 

https://replit.com/@tile5575 

https://www.atlasobscura.com/users/besttile-adhesivecompany-in-india 

https://allmyfaves.com/besttileadhesiveindia?tab=Best%20Tile%20Adhesive%20For%20Floor%20Tiles%C2%A0in%20India 

https://www.planetminecraft.com/member/besttileadhesiveindia/ 

https://besttilegroutforwalltilesinindia.mystrikingly.com/ 

https://besttilegroutindia.blogspot.com/2024/04/best-tile-grout-india.html 

https://sites.google.com/view/best-tile-grout-company-in-ind/ 

https://medium.com/@tileadhesiv3345/best-tile-grout-for-floor-tiles-in-india-3e0387043692 

https://www.freeseolink.org/Best-Tile-Grout-India_322505.html 

https://www.free-weblink.com/Best-Tile-Grout-India_181669.html 

https://www.homedirectory.biz/Best-Tile-Grout-India_365966.html 

http://www.relevantdirectories.com/Best-Tile-Grout-Company-in-India_244142.html 

https://www.angelsdirectory.com/Best-Tile-Grout-Company-in-India_326406.html 

http://www.directory3.org/details.php?id=342714 

https://www.justdirectory.org/details.php?id=267642 

http://www.alivelinks.org/Best-Tile-Grout-For-Wall-Tiles-in-India_429729.html 

https://www.fire-directory.com/Best-Tile-Grout-For-Floor-Tiles-in-India_427640.html 

https://www.1directory.org/details.php?id=271104 

https://clarity.fm/besttilegroutindia 

https://www.fundable.com/besttile-groutindia  

https://www.slideshare.net/tile5575 

https://www.scribd.com/user/742750459/tile5575 

https://www.goodreads.com/user/show/177628674-best-tile-grout-company 

https://www.twitch.tv/besttilegroutforwall/about 

https://www.mapleprimes.com/users/besttilegroutindia 

https://myspace.com/besttilegroutindia 

https://app.zintro.com/profile/ziefdb18a0?ref= 

https://dribbble.com/groutindia/about 

https://medium.com/@tileadhesiv3345/best-epoxy-grout-india-894368c2735f 

https://bestepoxygroutindia.mystrikingly.com/ 

https://sites.google.com/view/best-epoxy-grout-company-in-in/ 

https://bestepoxygroutcompanyinindia.blogspot.com/2024/04/best-epoxy-grout-company-in-india.html 

https://www.craigslistdirectory.net/Best-Epoxy-Grout-India_367377.html 

https://www.ebay-dir.com/Best-Epoxy-Grout-India_327437.html 

https://www.interesting-dir.com/details.php?id=361701 

https://www.poordirectory.com/Best-Epoxy-Grout-India_415685.html 

https://www.bedirectory.com/Best-Epoxy-Grout-India_348286.html 

https://www.alive-directory.com/Best-Epoxy-Grout-Company-in-India_631004.html 

https://www.smartseolink.org/details.php?id=349994 

Like

kundhavi gowtham
kundhavi gowtham
Aug 25, 2023

At Lighting Business, we are glad to offer internet based standing administration administrations to our independent company clients. Online Reputation Management Company Our group will work with you to assist with further developing your image picture, fabricate trust and believability, and assist with producing deals. To look further into our standing administration administrations, reach us today!

Like

The Continuum Showflat offers a range of bedroom configurations, each meticulously designed to provide maximum comfort and relaxation. the continuum From the master suite to the guest bedrooms, every detail has been carefully considered, including walk-in closets, ensuite bathrooms, and picturesque views of the city skyline.

Like

The Council of Scientific and Industrial Research (CSIR) National Eligibility Test (NET) is a prestigious examination conducted in India for candidates aspiring to pursue research and lectureship opportunities in the field of science and technology. The CSIR NET Exam holds numerous benefits for aspirants, the scientific community, csir net 2023 and society as a whole. In this essay, we will explore the manifold advantages of the CSIR NET Exam.

Like

A "extravagant textual style text generator" is an instrument or site that permits clients to change over standard text into different extravagant or enhancing text style styles. These generators use Unicode characters, unique images, fancy font and typographic components to make outwardly engaging and creative text varieties. The subsequent message can be replicated and utilized in virtual entertainment posts, messages, sites, or some other message based stages.


Like
bottom of page