Tax Benefits in Opportunity ZonePosted by
According to Josh Claybourn, Esq., public law attorney at Jackson Kelley’s Evansville Office, more than 150 census tracts in Indiana — including 5 in Evansville and 1 in Princeton — will be included in a new federal initiative that provides a tax incentive for investing capital gains in low-income areas. These tracts are known as “Opportunity Zones.” The Opportunity Zone program is designed to encourage investment in these poverty stricken tracts through investment in “qualified opportunity funds” or “QOFs”. Any gains earned from investments in QOFs are tax-free, and you can defer the inclusion of capital gains in gross income. Click here to read the entire article. Thanks to Josh Claybourn for this information.