Wachter v. Commissioner

US Tax Court, 142 TC 7, March 11, 2014: No federal tax deduction for conservation easement when state law limits easement to 99 years.

Wachter, in a bargain sale transaction, donated to a land trust a portion of the value of a conservation easement on North Dakota land. Wachter claimed a tax deduction for donation of a [...]

Stenehjem v Crosslands

SUPREME COURT OF NORTH DAKOTA, No. 20090199, May 13, 2010

Held that a corporation’s purchase of land violates the ban on corporate ownership of farmland if the predominant use and nature of the entire tract purchased is as farmland or ranchland, rejecting a determination of land use “acre-by-acre”. The purchaser, Crosslands, is a nonprofit corporation [...]