Administrative Code

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Virginia Administrative Code
Title 22. Social Services
Agency 40. Department of Social Services
Chapter 41. Neighborhood Assistance Tax Credit Program
4/3/2020

22VAC40-41-60. Determining Date of Donation.

A. The date of donation for cash, including stocks, real estate, and merchandise to be used by the approved organization, is the date used for federal tax purposes according to IRS regulations.

B. The date of the donation for merchandise donated to be sold, auctioned, or raffled is the date the proceeds were received by the approved organization.

C. The date of donation for professional services is the date the service is completed.

D. The date of donation for donated rent/lease is the effective date of the lease.

Statutory Authority

§§ 58.1-439.20 and 63.2-217 of the Code of Virginia.

Historical Notes

Derived from Volume 15, Issue 09, eff. February 17, 1999; amended, Virginia Register Volume 23, Issue 22, eff. September 1, 2007; Volume 25, Issue 23, eff. September 1, 2009.

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