Opportunity Zones provide private-sector investors the ability to defer and reduce their capital gains taxes. A Qualified Opportunity Fund can be used to acquire assets and ownership interests using existing capital gains. Any tax liabilities on those capital gains can be deferred and can be partially or completely reduced, depending on how long the investment is held.
For additional information, visit the IRS Opportunity Zone Q&A or the Oklahoma Department Commerce Investment Brochure. All participants are encouraged to visit with their preferred tax experts prior to setting up a Qualified Opportunity Fund.
McAlester Opportunity Zone Census Tract
Oklahoma Department of Commerce Incentive Map