Wixom, MI
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The Federal Tax Cuts and Jobs Act of 2017 included a provision known as the Investing in Opportunity Act, which encourages the investment of capital gains into low income areas designated as Qualified Opportunity Zones (QOZs).
These zones are designed to spur economic development and job creation in distressed communities throughout the U.S. by providing tax benefits to those who invest eligible capital into these communities.
The City of Wixom is home to one of the largest Opportunity Zones in the State of Michigan! For more information, see the information page below:
Formula to Access Tax Benefits
To access these tax benefits, investors must invest in Opportunity Zones specifically through Opportunity Funds.
A qualified Opportunity Fund is a U.S. partnership or corporation that intends to invest at least 90% of its holdings in one or more qualified Opportunity Zones.
If the investment is held 10 or more years, capital gain taxes will be eliminated.