Photographer: David ‘Dee’ Delgado / Bloomberg via Getty Images
By Lydia O’Neal | Bloomberg Tax
Investors across the country have been asking state officials to expand the areas designated for the 2017 tax law’s opportunity zone tax breaks—and changes related to the 2020 Census may give those investors a new chance to get what they ask for.
The Census Bureau is revising census tract boundaries, potentially giving state governments the ability to cover more of their states in opportunity zones, nearly two years after they requested a limited number of census tracts for the incentive in the wake of the tax law’s passage. Such expansions would provide investors with additional options for projects that take advantage of the popular tax breaks, which allow those with profits from stocks and other investments to defer and reduce their capital gains tax liabilities.
“Arizona is among the states that says it would consider census tract revisions if the Treasury Department guidance allowed it.”
