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JENNIFER DAZET
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JENNIFER DAZET

Gulf Opporunity Zone


BATON ROUGE REAL ESTATE - WWW.JENNIFERDAZET.COM

The Gulf Opportunity Zone Act of 2005 (H.R. 4440 passed by Congress on Dec. 16, 2005, and signed by President Bush on Dec. 21, 2005) establishes tax incentives and bond provisions to rebuild the local and regional economies devastated by hurricanes Katrina and Rita. The act is commonly referred to as the "GO Zone Act."

While the entire state of Louisiana is part of the Hurricane Katrina Disaster Area, the provisions of the GO Zone Act apply only to a limited number of Louisiana parishes, defined as the "Core Disaster Area" and referred to as the "GO Zone."



CLICK HERE FOR THE
GO ZONE GUIDE ONLINE

 However, it is also important to note that the GO Zone reaches far beyond Plaquemines, Calcasieu, Orleans, Jefferson, St. Bernard and the other parishes most devastated by Katrina and Rita.

This means that businesses on the North Shore of Lake Pontchartrain, in Baton Rouge, as far north as Pointe Coupee and the Feliciana parishes, and as far west as Calcasieu Parish are eligible to take advantage of many of the provisions of the GO Zone Act, including tax-exempt bond financing for new investment and favorable tax accounting for both new property and Katrina-related expenses.

BATON ROUGE REAL ESTATE - WWW.JENNIFERDAZET.COM


Go Zone Guide


Introduction: An Unprecedented Opportunity
The 2005 Atlantic hurricane season was a record period...

What is the GO Zone?
The Gulf Opportunity Zone Act of 2005...

Tax-Exempt Bond Financing: GO Zone Bonds
An integral part of the federal assistance made available...

GO Zone Bonus Depreciation
Under present law, a taxpayer is allowed to recover...

Increased Section 179 Expensing
Under IRS Code Section 179, a taxpayer may elect in...

Enhanced Net Operating Loss Carryback
The GO Zone Act also enhances the carryback of some...

Increased Tax Credit for Rehabilitation Expenditures
Under present law, 20% credit is provided for qualified...

Cleanup, Remediation, and Timber Reforestation Costs
Taxpayers in a trade or business may claim a 50% deduction...

Enhancement of Low-Income Housing Tax Credits
The GO Zone Act provides for a greater allocation...

Tax Credits for Employers
After Hurricane Katrina, Congress passed the Katrina...

Personal Casualty Losses
Taxpayers have long been able to deduct personal...

Other Extensions of KETRA Relief to Victims of Rita
The Katrina Emergency Tax Relief Act of 2005 provided...

New Markets Tax Credits in the GO Zone
The New Markets Tax Credit (NMTC) Program attracts...

Renewal Community Tax Credits
Renewal Communities (RCs) and Empowerment Zones...

Other Louisiana Business Incentives
More new projects planned for the Gulf Opportunity Zone...

Sponsor Directory
Professional assistance regarding the opportunities...

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