An Opportunity Zone is an economically-distressed community where new investments, under certain conditions, may be eligible for preferential tax treatment. The goal of an Opportunity Zone designation is to spur economic growth and investment in job creation.
Localities qualify as Opportunity Zones if they have been nominated for that designation by the state and that nomination has been certified by the Secretary of the U.S. Treasury via his delegation of authority to the Internal Revenue Service. (IRS Website). Opportunity zone savings are available in many locations in Washington State.
With zones throughout the U.S., incentives amass to deliver capital gains savings. Learn more about Washington State opportunity zones here.
Our VSH CPA team is here to serve your simple and advanced tax needs. Learn more about the benefits of opportunity zones from our team at firstname.lastname@example.org or 360-734-8715 (Bellingham) 360-707-4290 (Mt. Vernon)