Posted by Staff Writer on 3/11/2018 to Federal and State Taxes
Tax Incentive for Oregon Business
Take Action Before March 15
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.