By Chris Bergenheim - April 23, 2018 4:19 pm
PROVIDENCE - In the federal Tax Cut and Jobs Act of 2017, there was a provision designed to encourage investment in low-income areas that will be designated as “opportunity zones.”
The areas that will be named as opportunity zones will allow investors to qualify for tax incentives by reinvesting capital gains into qualified “opportunity funds” that will privately fund real estate projects, new businesses and startups, and the expansion of existing businesses.
United States governors were authorized to designate 25 low-income census tracts.
To view the complete article, visit Providence Business News
Courtesy of Providence Business News
Follow Us
Twitter
Facebook