Get Application & Computation Schedule For Claiming Delaware Land ...

Filling out the Application & Computation Schedule for claiming Delaware land can seem daunting, but with the right guidance, it becomes a manageable task. This user-friendly guide will provide you with detailed steps to complete the form accurately and efficiently online.

Follow the steps to successfully complete your Delaware land application online.

1. Click ‘Get Form’ button to obtain the form and open it in the editor.
2. In Part A, enter the Federal Employer Identification or Social Security Number of the entity or person applying for the credit. Also, input the tax period ending date in MM/DD/YY format.
3. Select the type of entity that is claiming the credit from the provided options (e.g., Corporation, Partnership, etc.).
4. Enter the name of the applicant in the designated field.
5. Provide the address of the applicant, ensuring all details are correct and complete.
6. Include the contact details of the responsible person, including their telephone number, fax number, and e-mail address in the specified sections.
7. In Part B, indicate the fair market value of the qualified land conveyed to a qualified conservation agency. Remember to attach a formal appraisal.
8. Calculate the tax credit by multiplying the fair market value by 40% and enter this on the designated line.
9. Determine your Delaware Land & Historic Resource Conservation tax credit before limitation by following the calculated steps and entering the smaller value of that or the maximum credit.
10. If applicable, follow the instructions for your entity type regarding how to report the credit on the relevant Delaware Form 700 lines. This may include multiplying by ownership percentages for various entity types.
11. Finally, review all entries for accuracy, save your changes, and download, print, or share the completed form as needed.

Start filling out your Application & Computation Schedule for Delaware land online today!