Credits/Incentives:
Wisconsin: FAQs Issued on State Benefits of Investments in Federal Qualified Opportunity Zones
Qualified Opportunity Zones, Wis. Dept. of Rev. (5/19/22). In a frequently asked questions (FAQs) format, the Wisconsin Department of Revenue (Department) explains the potential resulting federal and state income tax benefits for qualifying investments in a Wisconsin qualified opportunity fund (WQOF) and/or federal opportunity zone as prescribed by Internal Revenue Code sections 1400Z-1 and 1400Z-2 under the federal Tax Cuts and Jobs Act of 2017 (i.e., P.L. 115-97), including underlying capital gain exclusions/deferrals and basis adjustments. To help illustrate, the Department provides a working numerical example that shows the federal and Wisconsin tax benefits of investing in a WQOF. Please contact us with any questions.
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