Overview
Treasury, IRS Designate Opportunity Zones in Eighteen States
Yesterday, The Treasury Department and the IRS designated Opportunity Zones in 18 states/territories. Under the Tax Cuts and Jobs Act, states nominate low-income communities to be designated as Qualified Opportunity Zones with the intent to spur investment in those communities. New investments in Opportunity Zones can receive preferential tax treatment. The states/territories approved today were American Samoa, Arizona, California, Colorado, Georgia, Idaho, Kentucky, Michigan, Mississippi, Nebraska, New Jersey, Oklahoma, Puerto Rico, South Carolina, South Dakota, Vermont, US Virgin Islands, and Wisconsin.