Second timber tax credit sign-up for hurricane losses is underway
Applications for the Hurricane Michael Georgia Timber Tax Credit are being taken online by the Georgia Department of Revenue (DOR) at www.gfb.ag/timbertaxcredit through Dec. 31. The tax credit applies to forest landowners with timber damage from Hurricane Michael within the 28-county state-declared disaster area who plan to replant or restore acreage for the production of forest products or ecological services. Landowners who applied and were preapproved in the first round that ended May 31 need not reapply. The tax credit is designed to assist in offsetting up to $400 per acre of timber fair market value losses.