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New tax break rules for 'opportunity zone' investors
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Trade Publication Article
New tax break rules for 'opportunity zone' investors
2018
Overview
Administration officials say the goal of the program, established by the new tax law enacted last December, is to create businesses and jobs in lowincome areas and lift residents out of poverty. \"The real estate industry is completely excited and mobilized about this, and now is getting paid through massive tax cuts,\" said Timothy Weaver, a professor at the State University of New York in Albany who has studied similar development programs. Based on Census data, the zones have an average poverty rate of about 32 percent, compared with the national average of 17 percent.
Publisher
MCC Magazines, LLC d/b/a Alaska Magazine
Subject
