Gulf Opportunity Zone
Definition
A special bundle of federal income tax credits and deductions authorized by the Gulf Opportunity Zone Act of 2005 in the aftermath of the Hurricane Katrina Disaster. It allows some businesses to file for tax credits and deductions under certain criteria, for example assisting cleanup, demolition and environmental remediation costs. The purpose of the subsidy is to encourage economic recovery and growth throughout the designated region affected by the disaster (certain areas of Alabama, Louisiana and Mississippi).
Related Articles
- Alternatives to Traditional Property Investments *
- What Does It Mean To Corner The Market? *
- Savings Bonds *
- Which High Return Investment Is Right For Your Retirement Savings? *
- Borrowing Against a Life Insurance Policy *
- Being a Savvy Investor AND a Small Business Owner *
- Buying and Selling Investments *
- How to Contest Errors in Your Credit Report *
Related Videos
http://www.businessdictionary.com/definition/Gulf-Opportunity-Zone.html
