inancial assistance for reforestation is available at both state and federal levels. State cost-share funding is available through the N.C. Division of Forest Resources under the Forest Development Program (FDP). Landowners may receive up to 40 percent of the cost of site preparation and planting. Assistance is also available for timber stand improvement activities. Funding for this program is provided by the state and the forest products industry in North Carolina.

At the federal level, cost-share funds may be available under the Forest Incentives Program (FIP) or the Stewardship Incentive Program (SIP). Since these programs depend on annual federal appropriations, check with the N.C. Division of Forest Resources or your local Natural Resources Conservation Service office on availability and requirements.

Landowners are able to expense of up to $10,000 for reforestation costs in the year of occurrence with an accelerated amortization rate of 60 months for the remaining costs (a change from the former $10,000 tax credit), allow voluntary election of IRC Section 631(a) by timber industry to help with how they calculate their capital gains on timber, and establishes a modified safe harbor rule for timber Real Estate Investment Trusts.

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