Franklin County/Pasco Opportunity Zones
What is an Opportunity Zone?
Special designated census tract where certain investments are eligible for preferential federal tax treatment.
How do I take advantage of the benefits of a Opportunity Zone?
When you have a sale of an asset or investment that triggers a capital gains tax you can reinvest that income in a Pasco Opportunity Zone. The new investment allows:
- Deferral of capital gains for up to ten years
- Partial abatement at years five, seven, and ten
- No accrual of tax on new investment if held for ten years or more
DEVELOPMENT AREAS IN THE PASCO OPPORTUNITY ZONE
- Osprey Pointe (Port of Pasco)
- Marine Terminal (Port of Pasco)
- Downtown Pasco Redevelopment
- Commercial Avenue
- Heritage Industrial Park
- Washington Department of Commerce- Opportunity Zones Information
- IRS- Opportunity Zones Frequently Asked Questions
- IRS- Opportunity Zone Designation Rules and Regulations
- Scenarios Presentation by Blodgett, Mickelsen, & Adamson CPAs 2018-12-03
- Draft Opportunity Zone Regulations (October 2018 Release)