- Deferral of capital gains tax until the investment is sold or until 12/31/2026, whichever is earlier.
- Discounted capital gains (10% for investments held 5 years and 15% for investments held 7 years).
- Exclusion of 100% of future gains for investments held 10 years or longer.
Opportunity Zones are federally-designated census tracts classified as low-income communities. The Opportunity Zones program provides substantial tax benefits for capital gains reinvested into these economically disadvantaged areas. In Niagara County, Opportunity Zones are located in the Cities of Lockport, Niagara Falls, and North Tonawanda.
Tax benefits include:
Qualified investments include real estate, stock or equity interest in an existing business, startup businesses, and business property, as long as the investment is located in an Opportunity Zone. For business investements, at least 50% of revenues must be derived from the active conduct of business in the Opportunity Zone and at least 70% of the business' tangible property must be located in an Opportunity Zone.
Use the map below to find priority development sites located in an Opportunity Zone: