Virginia: tax incentives, credits and advisors
Virginia's Land Preservation Tax Credit rewards donations of land or conservation easements with a state income tax credit that can be transferred to other taxpayers, subject to an annual per-taxpayer claim limit.
Facts checked 2026-10-26 against the official sources linked below.
State incentives
Renewable energy items we cover in depth; the full catalog by category follows.
Land Preservation Tax Credit
The credit equals 40% of the fair market value of donated land or a conservation easement, as determined by a qualified appraiser. Virginia Tax can issue up to $75 million in these credits each year, first come, first served. Each taxpayer can claim up to $20,000 per year. Credits can be transferred; a 5% transfer fee generally applies and is paid with Form LPC-2, and transferees are subject to the same annual claim limit.
Sources: Virginia Tax, Land Preservation Tax Credit; Virginia Tax, Transferring a Land Preservation Tax Credit
Below are the major Virginia incentives we could verify against an official source, grouped by type. This is not an exhaustive list of every state program. Credits flagged Transferable can be sold or assigned to another taxpayer under state rules; see transferable state tax credits. Each row shows the date we last checked it.
Virginia film and media incentives
| Incentive | Type | Who qualifies | Amount, rate or cap | Transferable | Refundable | Status | Source |
|---|---|---|---|---|---|---|---|
| Motion picture production tax credit | Credit | Production companies with at least $250,000 of qualifying Virginia expenses | 15% of qualifying expenses (20% in economically distressed areas), plus additional payroll credits for Virginia residents | Not stated | Yes | Active for taxable years before January 1, 2031 | Code of Virginia §58.1-439.12:03; Virginia Tax, 2025 Schedule CR Instructions Last verified 2026-10-26 |
Virginia historic and building rehabilitation incentives
| Incentive | Type | Who qualifies | Amount, rate or cap | Transferable | Refundable | Status | Source |
|---|---|---|---|---|---|---|---|
| Historic rehabilitation tax credit | Credit | Individuals, estates, partnerships, trusts and corporations rehabilitating a certified historic structure, with work certified by the Department of Historic Resources | 25% of eligible rehabilitation expenses; rehab cost must be at least 50% (25% for owner-occupied homes) of assessed value; claims up to $7.5 million per taxpayer per year from 2025 | Not stated | No | Active | Virginia Tax, 2025 Schedule CR Instructions Last verified 2026-10-26 |
Virginia jobs, investment and enterprise zones incentives
| Incentive | Type | Who qualifies | Amount, rate or cap | Transferable | Refundable | Status | Source |
|---|---|---|---|---|---|---|---|
| Worker training tax credit | Credit | Employers providing eligible training to qualified workers, or manufacturing training to middle and high school students | 35% of eligible training costs; up to $500 per employee a year ($1,000 for non-highly compensated workers) | Not stated | No; cannot exceed tax liability; 3-year carryforward | Active | Virginia Tax, Business Development Credits Last verified 2026-10-27 |
| Enterprise Zone Act credit | Credit | Businesses in Virginia enterprise zones | Not stated | Not stated | Not stated | Expired: replaced by a DHCD grant program in July 2005; businesses with agreements signed before then may continue to claim | Virginia Tax, Tax Credits; Virginia Tax, Business Development Credits Last verified 2026-10-27 |
Virginia angel and venture investment incentives
| Incentive | Type | Who qualifies | Amount, rate or cap | Transferable | Refundable | Status | Source |
|---|---|---|---|---|---|---|---|
| Qualified equity and subordinated debt investments tax credit | Credit | Investors making qualified equity or subordinated debt investments in small qualified Virginia businesses (gross revenue up to $3 million) | 50% of qualified investments; statewide approvals up to $5 million a year; use limited to $50,000 per taxpayer per year | Not stated | No | Expired or repealed; carryovers only (per Virginia Tax) | Virginia Tax, 2025 Schedule CR Instructions; Virginia Tax, Tax Credits Last verified 2026-10-26 |
Virginia housing incentives
| Incentive | Type | Who qualifies | Amount, rate or cap | Transferable | Refundable | Status | Source |
|---|---|---|---|---|---|---|---|
| Virginia housing opportunity tax credit | Credit | Owners of qualified low-income buildings in Virginia placed in service from 2021 and allocated credits by Virginia Housing | Up to the amount of federal LIHTC allocated or allowed | Not stated | No | Active for taxable years before January 1, 2031 | Virginia Tax, 2025 Schedule CR Instructions; Code of Virginia §58.1-439.30 Last verified 2026-10-26 |
| Communities of Opportunity tax credit | Credit | Landlords participating in the Communities of Opportunity program | 10% of the annual market rent of each qualifying Housing Choice Voucher unit (prorated for part years) | Not stated | No; cannot exceed tax liability; 5-year carryforward | Active | Virginia Tax, Tax Credits; Virginia Tax, Housing and Community Development Tax Credits Last verified 2026-10-27 |
| Livable Home tax credit | Credit | Buyers of new accessible residences and owners retrofitting existing residences with accessibility features (rental units not eligible) | $6,500 for a new accessible residence, or 50% of retrofit cost up to $6,500; DHCD cap $2 million a fiscal year from July 1, 2023; 7-year carryforward | Not stated | No; cannot exceed tax liability | Active | Virginia Tax, Housing and Community Development Tax Credits Last verified 2026-10-27 |
Virginia charitable giving incentives
| Incentive | Type | Who qualifies | Amount, rate or cap | Transferable | Refundable | Status | Source |
|---|---|---|---|---|---|---|---|
| Land preservation tax credit | Credit | Taxpayers who convey land or an interest in Virginia land in perpetuity to an eligible conservation agency | 40% of the land's fair market value (qualified appraisal required); claims limited to $20,000 per taxpayer per year from 2024; 10-year carryforward | Transferable: Yes, for credits originating on or after January 1, 2002 (transfer fees generally apply) | No | Active | Virginia Tax, 2025 Schedule CR Instructions; Virginia Tax, Land Preservation Tax Credit Last verified 2026-10-26 |
| Neighborhood Assistance Act credit | Credit | Donors to approved neighborhood assistance programs | Up to 65% of the donation's value (Va. Code §58.1-439.21; business firms may accept a lower percentage) | No; non-transferable | No; non-refundable; 5-year carryforward | Active | Virginia Tax, Tax Credits; Virginia Tax, Housing and Community Development Tax Credits; Va. Code §58.1-439.21 Last verified 2026-10-27 |
Virginia conservation and land incentives
| Incentive | Type | Who qualifies | Amount, rate or cap | Transferable | Refundable | Status | Source |
|---|---|---|---|---|---|---|---|
| Riparian waterway buffer tax credit | Credit | Individuals and corporations that leave a forested riparian buffer unharvested under a Forest Stewardship Plan | 25% of the value of the timber in the buffer, up to $17,500 or the tax due | Not stated | No | Active | Virginia Tax, 2025 Schedule CR Instructions Last verified 2026-10-26 |
Virginia agriculture incentives
| Incentive | Type | Who qualifies | Amount, rate or cap | Transferable | Refundable | Status | Source |
|---|---|---|---|---|---|---|---|
| Agricultural best management practices tax credit | Credit | Farmers with practices certified by their local Soil and Water Conservation District | Certified amount under Form ABM | No (must be allocated to pass-through owners by ownership share) | Yes | Active | Virginia Tax, 2025 Schedule CR Instructions Last verified 2026-10-26 |
Advisors located in Virginia
No advisors in our directory list a Virginia location yet. Browse all advisors, or list your firm.
Related strategies
- State Conservation Credits IRS scrutiny: Yellow
- Direct Conservation Easements IRS scrutiny: Orange
- Syndicated Conservation Easements IRS scrutiny: Red
Related guides
- Conservation easements in 2026: courts, settlements and the new IRS office
- How to find and vet a tax mitigation advisor: credentials, questions and red flags
- How state tax credit transfers work: minimum prices, notices, buyer limits and state examples
Common questions
How much is the Virginia Land Preservation Tax Credit?
40% of the fair market value of the donated land or easement. Each taxpayer can claim up to $20,000 per year, and the state issues up to $75 million per year.
Can Virginia land preservation credits be sold?
Yes. Credits can be transferred; a 5% transfer fee generally applies, paid with Form LPC-2, and the buyer is subject to the same annual claim limit.
Find my tax savings All states