Posted by Staff Writer on 3/11/2018 to
Federal and State Taxes
IncSmart Oregon (Small Business and Startups) - The new tax incentive for Oregon business has been created to drive investment in communities that have previously been
hampered by a lack of access to capital. The federal Tax Cuts and Jobs Act of 2017 allows Oregon’s
Governor to nominate up to 86 Opportunity Zones in the state. The final
selections will be made by the U.S. Department of Treasury from this list. Under the new federal tax laws, investors
with currently unrealized capital gains can move those gains tax deferred into
an Opportunity Fund. Opportunity Funds are expected to be created by Community Development Financial
Institutions.
Opportunity Zones are similar to enterprise zones and are designed to
draw private investment to low-income communities. Business owners around the state have until March 14 to
provide input to Business Oregon on the best locations for these 86 Opportunity
Zones. The potential for Oregon investors and
small businesses to benefit is enormous if action is taken before March 14. Once placed in an Opportunity Fund, the amount invested will be available
to invest in property and improvements in Opportunity Zones, with some
limitations. Please consult a professional tax advisor for specifics. Investors who leave their money in the Opportunity Fund for 10
years will qualify for a 15% decrease in capital gains taxes on the original
sum they invested. Plus, any gains earned through the fund’s
investments are tax-free under current
state and federal law.
By IncSmart Staff Writer
Starting a Business in Oregon
For 10 years, IncSmart.biz Business Services has helped companies and people from all over the world form Oregon Corporations and Oregon Limited Liability Companies. When you call, email, text, message or live chat with our office, expect personal attention. Small business is the heart of IncSmart.
We are very excited about helping you form your new company. Each state is so different when it comes to filing documents, you will know right away you are in the right place.
#incsmart
How to form Oregon LLC - Link
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