Few issues have captured the attention of investors like "opportunity zones". The opportunity zone program was created under the 2017 Tax Cuts and Jobs Act to provide local and national investors with a tax incentive for investments in economically distressed areas of the country. In South Carolina much of Tract #45055970800 comprises the City of Camden - more than any other place in Kershaw County.
The Opportunity Zones program offers investors the following incentives for putting their capital to work here:
- Investors can roll existing capital gains into Opportunity Funds with no up-front tax bill.
- A 5 year holding increases the rolled-over capital gains basis by 10%
- A 7 year holding increases the rolled-over capital gain investment basis 5% for a total of 15%
- Investors can defer their original tax bill until December 31, 2026 at the latest, or until they sell their Opportunity Fund investments, if earlier.
- Opportunity fund investments held in the fund for at least 10 years are not taxed for capital gains.
- Read the recently released Proposed Opportunity Zones Regulations to learn the parameters of the program, including what gains qualify for deferral, which taxpayers and investments are eligible and other guidance.
To find out where the Opportunity Zones are located in Camden, SC