What is the GO Zone? Part 1
The Gulf Opportunity Zone Act of 2005 (H.R. 4440 passed by Congress on Dec. 16, 2005, and signed by President Bush on Dec. 21, 2005) establishes tax incentives and bond provisions to rebuild the local and regional economies devastated by hurricanes Katrina and Rita. The act is commonly referred to as the “GO Zone Act.”
GO Zone Bonus Depreciation
Under present law, a taxpayer is allowed to recover, through annual depreciation deductions, the cost of certain property used in a trade or business or for the production of income. The amount of the depreciation deduction allowed with respect to tangible property for a taxable year is determined under the modified accelerated cost recovery system [...]
GO Zone makes for an Unprecedented Opportunity
The 2005 Atlantic hurricane season was a record period of activity in this country with 27 named storms and 14 hurricanes. Of the seven hurricanes that made landfall, six came ashore along the Gulf Coast, impacting all states from Texas to Florida. Hurricanes Katrina and Rita were particularly devastating to Louisiana and its coastal communities, mainly the New Orleans and Lake Charles areas.
Priority Alerts for New GO Zone Investments