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Find similar grantsOpportunity Zones is sponsored by Nevada Department of Business & Industry. Grants Government grants are funded by your tax dollars and, therefore, require
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Opportunity Zones Resources IRS Information on Opportunity Zones Nevada O-Zone Conference Videos Introduction to Nevada O-Zones The Opportunity Zone (O-Zone) Tax Incentive was created by the Tax Cuts and Jobs Act at the end of 2017 to encourage patient private investment of capital into projects, businesses and property development in low-income areas.
In June 2018, sixty-one of Nevada’s low-income census tracts received official designation as Qualified Opportunity Zones (QOZ) by the U.S. Department of Treasury and the IRS.
The tax incentives reduce taxes on realized capital gains that are quickly reinvested into these designated census tracts by providing three benefits: 1)The deferral of taxes; 2) A reduction in taxes by 10 to 15 percent; 3)The exclusion of capital gains tax on appreciation if held for 10 years.
O-Zone investments take the form of equity, are expected to account for up to 30 percent of the capital investment in an entity, and must be made through Opportunity Zone Funds (O-Funds). This incentive is expected to generate billions of dollars of investment into low-income areas that have previously not been able to attract reasonable cost of capital to spur economic and community development.
Opportunity Zones Resources IRS Information on Opportunity Zones Nevada O-Zone Conference Videos Introduction to Nevada O-Zones
Based on current listing details, eligibility includes: See the Nevada grants portal for complete eligibility requirements. Applicants should confirm final requirements in the official notice before submission.
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