Mississippi Qualified Opportunity Zones
On April 9, the U.S. Department of the Treasury announced the certification of specific census tracts nominated by Mississippi Governor Phil Bryant and designated such census tracts as Qualified Opportunity Zones.
The Tax Cuts and Jobs Act of 2017 established Opportunity Zones as a new community development program aimed to encourage long term investments in low-income and rural communities. Private investment within a Qualified Opportunity Zone may earn tax relief on the capital gains generated through those investments. Tax benefits increase the longer investments are in place.
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