The Hardwood Initiative Tax Credit equals the out-of-pocket cost of management work up to $1,000 per taxpayer per tax year. In order to receive the tax credit, landowners must:
- Have a management plan that includes at least one hardwood best practice.
- Get their management plan approved by their local DOF forester.
- Complete the work (verified by DOF staff).
- Have an expenditure in getting the work completed.
Landowners may apply for and receive the tax credit and state or federal cost share including the Hardwood Initiative Cost-Share Program, Environmental Quality Incentives Program (EQIP), Conservation Stewardship Program (CSP), Virginia Agricultural Cost Share (VACS) and Conservation Reserve Enhancement Program (CREP), provided they still have out-of-pocket expense after the cost-share payments.
To Apply
Applications are made through local DOF foresters. Applicants can expect to receive approved tax credits within eight weeks of submitting their application.
To learn whether this tax credit is right for your forest, consult your local DOF forester.
Additional Resources
| Image | Title | ID | Description | Content Type | View | hf:tax:document-category | hf:tax:Media |
|---|---|---|---|---|---|---|---|
 | Hardwood Initiative Tax Credit Application | 7.29 | Application for to apply for Hardwood Initiative Tax Credit. | Form | View | financial-assistance-forest-management forest-management | form |
 | Hardwood Initiative Tax Credit Program – Offering Tax Incentives for Hardwood Management | FT0062 | Forestry topic information sheet provides information about Department of Forestry’s Hardwood Initiative Tax Credit Program, who is eligible and what qualifies for the tax credit. | Publication | View | financial-assistance-forest-management forest-management | publication |
Contact Us
DOF foresters can assist you with your forestland, contact your local DOF forester.
For more information or questions, e-mail us or use our contact form.