Important Tax Information for Area Businesses
$10 Billion Cash Incentives Available Through GO Zone
and Renewal Community
Many small- and medium-sized businesses throughout south Louisiana are still eligible for tax breaks as part of the Gulf Opportunity Zone and Renewal Community Tax Credit programs. These programs can play a major role in the region's recovery, and incentives can be used for business renovations, building expansion, equipment and hiring workers. A campaign is under way to raise awareness about these incentives.
Visit YourTaxClaim.com for more information
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Federal Business Incentives
Gulf Opportunity Zone
The Gulf Opportunity Zone Act provides tax incentives for business development in the parishes most affected by Hurricanes Katrina and Rita, including 50% bonus depreciation and tax exempt bonds.
Renewal Communities
Renewal Communities (RCs) are distressed areas in urban and rural communities that the federal government has targeted for development and where businesses are eligible for billions of dollars in tax incentives.
New Markets Tax Credits
Investors in qualified projects can obtain a tax credit of five or six percent of the amount invested for each year the investment is held, for up to seven years of the credit period.
Gulf Opportunity Zone, Renewal Communities,
New Markets Tax Credits
and more.
New Markets Tax Credits
and more.
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