Opportunity Zones in Yankton
For more information about opportunity zones in Yankton County, please contact Nancy Wenande
What are Opportunity Zones?
Opportunity Zones are census tracts generally composed of economically distressed communities that qualify for the Opportunity Zone designation according to criteria outlined in 2017’s Tax Cuts and Jobs Act. Since the passage of the law, Opportunity Zones have been designated in all 50 states in the US, the District of Columbia, and five US possessions (American Samoa, Guam, Northern Mariana Islands, Puerto Rico, and the Virgin Islands).
Why are they important?
Opportunity Zones were created to revitalize economically distressed communities using private investments rather than taxpayer dollars. To stimulate private participation, taxpayers who invest in Qualified Opportunity Zones are eligible to benefit from capital gains tax incentives available exclusively through this new legislation.
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