TAX IMPLICATIONS OF HIGHWAY RIGHT-OF-WAY ACQUISITION

THE TAX CONSEQUENCES ARE DISCUSSED OF LAND ACQUISITION FOR THE 41,000-MILE NATIONAL SYSTEM OF INTERSTATE AND DEFENSE HIGHWAYS. THE PROVISIONS IN THE TAX LAW GOVERNING CONDEMNATION OF PROPERTY ARE TECHNICAL AND DIFFICULT, BUT THEY ARE OF IMPORTANCE TO TAXPAYERS WHOSE LAND WILL BE CONDEMNED IN THE NEXT FEW YEARS AS A RESULT OF THE VAST INTERSTATE HIGHWAY PROGRAMS. THE AMOUNT OF THE AWARD, THE INVESTMENT OF THE PROCEEDS OF THE AWARD, AND THE ALLOCATION OF THE AWARD TO PROVIDE FOR SEVERANCE DAMAGES ARE IMPORTANT CONSIDERATIONS FOR THE TAXPAPER.

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Filing Info

  • Accession Number: 00200838
  • Record Type: Publication
  • Files: TRIS, TRB
  • Created Date: Dec 9 1994 12:00AM