Federal Opportunity Zone Tax Benefits: The federal Opportunity Zone program was designed to encourage private investment in rebuilding American cities. Eligible investors who make qualifying investments can benefit from significant federal tax advantages including deferral of capital gains and potential reduction of deferred capital gains tax liability.
Accumulated R&D Tax Credit Expansion Program: Does your business have a capital project, either planned or underway, that will increase employment, expand your business or generate substantial returns to the state economy? If so, you may be able to accumulate your unused tax credits until they can better benefit you.
Green Buildings Tax Credit: Any real estate development project that is designed to meet LEED Green Building Rating System gold certificate or other equivalent certification and does not exceed 70% of the energy use allowed by the state energy code for new construction (or 80% for renovations/rehabilitation) are eligible for tax credits equivalent to a percentage of allowable costs based on the type of project and the LEED Rating achieved.
Brownfield Remediation Grants and Loans: Businesses planning to develop in brownfield locations eligible for a variety of benefits, including negotiable low-interest, long-term loans, up to 4 million in grants, and a special fund for environmentally friendly dry cleaning businesses.
Historic Rehabilitation Tax Credit: Any building owner rehabilitating a certified historic structure for nonresidential use or both residential and nonresidential use can receive a tax credit equal to the lesser of the two: 25% of the projected qualified rehabilitation expenditures or 25% of the actual qualified rehabilitation expenditures. If affordable housing is created (and is compliant with the affordable housing certificate) then the tax credit rises to 30%. Read more about the tax credit and what rehabilitation expenditures are qualified towards the credit here.
