certified historic structure


Also found in: Encyclopedia.

certified historic structure

As defined by the IRS for purposes of the rehabilitation tax credit (popularly known as the historic preservation tax credit),any building,portion of a building,bridge, ship, railroad car, dam, or any other structure that is either listed in the National Register of Historic Places or located in a registered historic district and certified by the U.S.Department of the Interior as being historically significant to the district.

Certified Historic Structure

A structure listed on the National Register of Historic Places or located in a designated historic area. The IRS Code provides tax incentives for the rehabilitation of such structures.
References in periodicals archive ?
The HTC for franchise tax purposes is effective on January 1, 2015 and may be claimed on eligible costs and expenses (incurred before and after September 1, 2013) associated with the certified rehabilitation of a certified historic structure that is placed in service on or after September 1, 2013.
Conservation purposes under IRC [section] 170(h)(4)(A) are (1) preserving land for outdoor recreational use by, or education of, the general public; (2) protecting relatively natural habitats of fish, wildlife or plants; (3) preserving open space (including farmland or forest space) for scenic enjoyment of the general public or under a governmental conservation policy yielding significant public benefit; and (4) preserving a historically important land area or a certified historic structure.
Preservation of historically important land or a certified historic structure.
170(h) (4)(A)(iv), the "conservation purpose" is defined as preserving an historically important land area or certified historic structure.
The Federal Rehabilitation Tax Credit Program allows a 20-percent deduction in income tax of the amount spent to rehabilitate a certified historic structure.
If the donor owns a certified historic structure, as defined in current law, there will be no deduction for the contribution of a facade easement if the property is or recently was used as a personal residence of the donor or a family member.
A taxpayer may be eligible for a credit for eligible expenses incurred in the rehabilitation of a certified historic structure.
A certified historic structure is any building that is 1) listed in the National Register of Historic Places, or 2) located in a registered historic district and is certified by the Secretary of the Interior as being of historic significance to the district.
According to the court, the easements preserved a certified historic structure and were granted in perpetuity; however, the court, based on expert testimony, reduced the amounts of the deductions.
Preserves a historically important land area or a certified historic structure (the historic preservation requirement); see Sec.
Facade preservation easements permanently prevent demolition, neglect and insensitive alterations to the exterior facade of a certified historic structure.
280B provided that in the case of the demolition of a certified historic structure, no deduction would be allowed for any amount expended for the demolition or any loss sustained on account of the demolition.

Full browser ?