Opportunity Zone Tax Incentives

A guide from The Greener Futures Fund

Overview of the Opportunity Zone Tax Incentives

Opportunity Zones are federally designated census tracts that are economically distressed. The Opportunity Zone tax credit will be available to any individuals or companies reinvesting realized capital gains in businesses located in these areas.

Key Program Requirements

  • Invest through a Qualified Opportunity Zone Fund
  • At least 50% of the property (for real estate investments) or hours worked (for business investments) occur in the Qualified Opportunity Zone
  • Invest capital gains within 180 days of being realized to be eligible

Tax Benefits

A 15% reduction in federal capital gains tax

If the initial capital gains investment remains in the fund for seven years, then the investor is entitled to a reduction of 15% on the initial investment.

No federal tax on capital gains from the initial investment

If the initial capital gains investment remains in a Qualified Opportunity Zone Fund for ten years, then there is no federal capital gains tax obligation. This benefit will be extended until 2048.

Ohio Individual Income Tax

In addition to federal tax benefits, Ohio has allocated $50 million dollars to incentivize investment in Ohio Opportunity Zones. Ohio’s tax credit applies specifically to investments in property in Opportunity Zones.

Let’s get started!

Interested parties should contact

The Greener Futures Fund

100 S Bridge St
Struthers, OH 44471