Please Note: All Federal rehabilitation tax credit applications received on and after December 2, 2019, must use the new Federal forms (header of each form dated “Rev. 06/2016 v2”). Previous versions will not be accepted. You can access the new federal forms at this NPS webpage: National Park Service.
Effective February 2016: State Rehabilitation Tax Credit Regulations: Changes were made to Rehabilitation Tax Credit Regulations. The amendments and clarifications of the existing program regulations were necessary to—
Additionally, the amendments revised the existing fee structure to more accurately reflect the time and professional expertise necessary for DHR’s review of projects.
All submissions to DHR must be in compliance with those amended regulations, which were published in the Virginia Register.
Please note, in particular, review of rehabilitation expenses by a CPA is required for all projects. An Agreed-Upon Procedures (AUP) engagement will be conducted for projects with rehabilitation expenses less than $500,000. The CPA’s resulting AUP report, which includes a supporting schedule of rehabilitation expenses, schedule of construction costs, and relevant disclosure notes, is submitted with the Part 3 application.
DHR requires that a CPA conduct an audit of rehabilitation expenses for projects with expenses of $500,000 or more to provide assurance that the expenses meet the requirements of the program and are eligible for the tax credit. The CPA’s resulting audit report—which includes a supporting schedule of rehabilitation expenses, schedule of construction costs, and relevant disclosure notes—is submitted with the Part 3 application.
Please use the revised (as of Feb. 2016) application forms below and other documents related to the new amendments.
To ensure that your historic rehabilitation is eligible for state income tax credits, you need to complete the three-step certification process. An application checklist is provided to guide you in submitting your application. The first step is to print and fill in the Part 1 Application and send it to the address provided, together with the other materials noted on the checklist. If you are planning to apply for the federal credit as well as the state credit, note that your application should include two copies of the federal form, which can be obtained on the National Park Service website. The department’s tax-credit staff will contact you about moving forward.
Note: Parts 2 and 3 require a processing fee, due to increasing cost in processing the applications; use the Billing Statement form to determine the fee for your application.
(In order to read and print the following forms, Adobe Acrobat Reader must be installed on your computer (free software). Download Acrobat Reader now. For your convenience, the application forms are also provided as Microsoft Word files, which enables you to enter data via your computer.)
Virginia Tax Credit Application
Additional Documents Pertaining to Program Changes (implemented February, 2016):
Other Important Documents for Virginia Tax Credit Application & Projects
Updated November 5, 2019