The 2017 Tax Cuts and Jobs Act established Opportunity Zones to spur private investment in distressed communities throughout the U.S. This new Opportunity Zones program will allow investment in some of our nation’s most economically challenged communities through tax incentives. The tax incentives encourage private investment to accelerate economic growth and job creation. For an overview of the program,
In order to access this new federal program, governors have the responsibility to identify the areas in their state that should be designated as Opportunity Zones, based on federal guidelines.
Click here to read a press release announcing the U.S. Department of Treasury’s approval for the 120 Economic Opportunity Zone (EOZ) designations throughout the State of Wisconsin.
*Geographical Data provided by CDFI
Wisconsin’s 120 EOZ census tract designations are the maximum allowed under the federal program and represent 44 counties, 60 municipalities and two tribal reservations. They span from the northern communities of Superior, Ashland and Eagle River to the southwestern cities of Hillsboro, Prairie du Chien and Platteville to the southeastern corridor including Milwaukee, Racine and Kenosha. All eight of Wisconsin’s Congressional Districts have EOZ designations. The following maps identify the EOZ census tract designations by Congressional District.
U.S. Department of Treasury CDFI Fund website for the most up-to-date information and resources on Opportunity Zones. Here you will find IRS revenue procedures, a list of designated Qualified Opportunity Zones in the U.S. as well as an interactive map that will help you identify if a particular address is located in a qualified census tracks.
Click here to view a list of Frequently Asked Questions about Opportunity Zones on the IRS's website.
This webinar will provide an overview of the Opportunity Zone (OZ) Program that was part of the 2017 Tax Reform Act. It will explain the mechanics and Federal tax benefits of making investments in Opportunity Zones with federal capital gains tax obligations. Examples of specific real-life OZ investments will be presented. The webinar will also cover how Opportunity Zones benefits can be combined with other programs such as the Affordable Housing Tax Credit Program.
Click here to view the recorded presentation.
Click here to download presentation slides.