Tax Warrior Chronicles

Planning for Expiring KOZ Tax Exemptions

Posted on Tue, Aug 14, 2018

By: Clare Porreca, CPA, MT

 

Many businesses in Pennsylvania have benefitted from the Keystone Opportunity Zone Program(“KOZ”).  Some are set to expire soon.  They can be extended for an additional 10 years if certain job creation and capital investment requirements have been met.  If they are not extended, however, businesses previously exempt from many taxes will now be subject to them all.  For those businesses, careful planning is in order.

Read More

What Happens When KOZ Tax Breaks Are Not Extended?

Posted on Fri, May 12, 2017

 

By: Nashwat Hussein-Sagaff, CPA

 

Since 1999, many businesses have benefited from the Keystone Opportunity Zone (KOZ) Program.  KOZ reduces or eliminates taxes to drive investment and economic development where little or none has taken place.  In 2018, many KOZ designated properties are due to expire, along with their zero-tax status.  Without an extension, these companies must prepare for normal business taxation. Here’s what they need to know…

Read More