INDIANTOWN IS ONE OF ONLY 7% of US-designated Opportunity Zones in rural Florida, and one of the relatively few in SE Florida. [1]
Capital gains tax forgiveness is one of the greatest Opportunity Zone Program benefits. Significant new capital investment should be attracted to this area to realize business cost savings over time.
If you invest $100,000 in a qualified Opportunity Zone Fund – you are taxed on 10% less, or $90,000, and that’s deferred for six years; however, you can also defer the gain until 2026.
Also, after ten years, if the initial investment of $100,000 increases to $180,000, the $80,000 gain is tax-free.[2]
Entrepreneurs who invest in the Opportunity Zones stand to gain, too. Not only real estate is covered – the capital gains deferral applies to any type of business attracted to the Zone (with some exceptions).
More on the program from the State of Florida is available here.
References
- (n.d.). Retrieved from https://www.sba.gov/federal-contracting/contracting-assistance-programs…
- (n.d.). Retrieved from https://www.portofpalmbeach.com/DocumentCenter/