Tuesday, July 21, 2009

Kiva Dunes wins tax break ruling - al.com

Kiva Dunes wins tax break ruling - al.com: "The owners of the famed Kiva Dunes golf course can claim a tax credit worth nearly $28.7 million because they donated the conservation easement for their Fort Morgan property to a Pennsylvania nonprofit, essentially promising no further development of the 141 acres, according to a U.S. Tax Court ruling.

The 30-page ruling issued June 22 concluded a 3-year legal battle between the beachside course's owners and the Internal Revenue Service.

The government disputed not only the validity of the easement, but also the amount that Kiva Dunes said it was worth."