Opportunity Zones

Looking to invest in an Opportunity Zone? The Town of Garner has two Opportunity Zones for your to choose from. Contact the Economic Development Office for more information.

What is Opportunity Zone?

An Opportunity Zone is a designation that was created by the 2017 Tax Cuts and Jobs Act of 2017. This law designated certain census tracts as Opportunity Zones to encourage investment in lower income areas.

What are the benefits of investing in an Opportunity Zone?

  • Temporary tax deferral for capital gains reinvested in an Opportunity Fund

  • Step-up in basis for capital gains reinvested in an Opportunity Fund

  • Permanent exclusion from taxable income of long-term capital gains

For additional information on the treatment of capital gains invested and earned through the Opportunity Zones program, visit the NC Department of Commerce’s website.

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