A credit is allowed for a gift of land for conservation or for a qualified conservation contribution on any qualified real property interest. The gift or contribution has to be made after May 31, 2001. The taxpayer must qualify for and claim a federal charitable deduction for the gift or contribution. The credit is limited to $250.00 per acre contributed, however, any wetland acreage lying within the intertidal zone shall not be taken into consideration for the calculation of this per acre cap. This credit is limited to $52,500.00 for a taxpayer in any single tax year.
This credit can be used in conjunction with any other credits to offset any income tax owed by the person or entity claiming it. Any amounts not used due to the credit being greater than the current year tax due may be carried forward to succeeding years. The credit may not be used against corporation license or any other fees. In addition to the
carryforward, unused credit may be transferred, devised, or distributed, with or without consideration, by an individual, partnership, limited liability company, corporation, trust, or estate, in accordance with SC Code Section 12-6-3515.