Wyoming names 25 opportunity zones for investors to defer taxes, lift neighborhoods

Friday, July 13, 2018

The 2017 Tax Cuts and Jobs Act created the opportunity zone program, which allowed states to designate qualified low-income areas as opportunity zones. Governor Mead nominated 25 zones in Wyoming in April and all 25 have since been certified by the U.S. Department of Treasury.

Opportunity zones allow any taxpayer to defer capital gains taxes by investing their gains in property or businesses within an opportunity zone. The goal is to create new jobs and wealth by encouraging investments.

“Opportunity zones have the potential to attract business and improve prosperity in communities,” said Governor Matt Mead. “As Wyoming works to diversify its economy and spark growth in cities and towns, investment in these areas provides additional incentives.”

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