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Tax benefits available for Ohio low-income community investors

THE BLADE/KURT STEISS

Tax benefits available for Ohio low-income community investors

COLUMBUS — More than $28 million in tax benefits are available to investors through the Ohio Opportunity Zone Tax Credit Program.

The Ohio Department of Development made the announcement Friday targeting low-income communities where new investments may be eligible for preferential tax treatment.

Ohio Qualified Opportunity Fund (QOF) investments occurring from July 1 to Dec. 31 of last year are eligible for tax credit consideration for the current application period. Eligible applicants include those who invested in a qualified opportunity fund, which, in turn, invested that capital in a QOF property.

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More information on program eligibility and the application process can be found here. Applications can be submitted until 5 p.m. Feb. 1.

Ohio counts 320 opportunity zones in 73 counties across the state.

To learn more about the Ohio Department of Development, go to development.ohio.gov.

First Published January 12, 2024, 10:49 p.m.

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