Gulf Opportunity Zone

Gulf Opportunity Zone
A bundle of special federal income tax credits and deductions available to businesses opened in the Hurricane Katrina Disaster Area after August 27, 2005. The property must meet several further requirements to qualify for the deductions and credits. For example, massage parlors, liquor stores, golf courses, and a few other types of businesses are excluded.

The deduction allows for 50% depreciation and an increased Section 179 expense deduction. It also provides a tax credit for hiring individuals from certain groups and a deduction for certain demolition, clean-up and environmental remediation costs. The purpose of this subsidy is to encourage economic growth in an area that business owners might otherwise find unattractive.


Investment dictionary. . 2012.

Игры ⚽ Нужно решить контрольную?

Look at other dictionaries:

  • Northern Gulf Institute — The Northern Gulf Institute (NGI) is a National Oceanic and Atmospheric Administration (NOAA) Cooperative Institute started in October 2006. The NGI is a partnership of five academic institutions and NOAA. The collaboration led by Mississippi… …   Wikipedia

  • George W. Bush's second term as President of the United States — began at noon on January 20, 2005 and is due to expire with the swearing in of the 44th President of the United States at noon, Washington, D.C. time, on January 20, 2009.tated goalsBush s stated goals for his second term: # Major changes to the… …   Wikipedia

  • Section 179 — An immediate expense deduction that business owners can take for purchases of depreciable business equipment instead of capitalizing and depreciating the asset. The Section 179 expensing method is offered as an incentive for small business owners …   Investment dictionary

  • United States — a republic in the N Western Hemisphere comprising 48 conterminous states, the District of Columbia, and Alaska in North America, and Hawaii in the N Pacific. 267,954,767; conterminous United States, 3,022,387 sq. mi. (7,827,982 sq. km); with… …   Universalium

  • international relations — a branch of political science dealing with the relations between nations. [1970 75] * * * Study of the relations of states with each other and with international organizations and certain subnational entities (e.g., bureaucracies and political… …   Universalium

  • china — /chuy neuh/, n. 1. a translucent ceramic material, biscuit fired at a high temperature, its glaze fired at a low temperature. 2. any porcelain ware. 3. plates, cups, saucers, etc., collectively. 4. figurines made of porcelain or ceramic material …   Universalium

  • China — /chuy neuh/, n. 1. People s Republic of, a country in E Asia. 1,221,591,778; 3,691,502 sq. mi. (9,560,990 sq. km). Cap.: Beijing. 2. Republic of. Also called Nationalist China. a republic consisting mainly of the island of Taiwan off the SE coast …   Universalium

  • India — /in dee euh/, n. 1. Hindi, Bharat. a republic in S Asia: a union comprising 25 states and 7 union territories; formerly a British colony; gained independence Aug. 15, 1947; became a republic within the Commonwealth of Nations Jan. 26, 1950.… …   Universalium

  • Australia — /aw strayl yeuh/, n. 1. a continent SE of Asia, between the Indian and the Pacific oceans. 18,438,824; 2,948,366 sq. mi. (7,636,270 sq. km). 2. Commonwealth of, a member of the Commonwealth of Nations, consisting of the federated states and… …   Universalium

  • Economic Affairs — ▪ 2006 Introduction In 2005 rising U.S. deficits, tight monetary policies, and higher oil prices triggered by hurricane damage in the Gulf of Mexico were moderating influences on the world economy and on U.S. stock markets, but some other… …   Universalium

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”