Overview
The Gulf Opportunity Zone Act of 2005 (GO Zone) provides federal
and state tax incentives for business development in parishes most
affected by hurricanes Katrina and Rita.
Benefits
50 Percent Bonus
Depreciation
Qualified property in the Louisiana GO Zone is eligible for an
additional one-time, up-front 50% bonus depreciation. The green
areas on the GO Zone map require facilities to have been
placed in service on or before Dec. 31, 2008. The yellow areas on
the map require facilities to be placed in service on or before
Dec. 31, 2010.
Tax Exempt Bonds
In lieu of using bonus depreciation on investments, most
developments in the Louisiana GO Zone qualify for tax exempt bond
finance (subject to availability of bond capacity). Interest rates
on GO Zone bonds can be expected to save a borrower 1.5% to 2.5% a
year.
Eligibility
GO Zone benefits are available to businesses located in the Gulf
Opportunity Zone, which includes the parishes most affected by
hurricanes Katrina and Rita. Click here for a downloadable PDF map of
the Gulf Opportunity Zone.
For comprehensive rules and details on eligibility, please
review Related Content below and contact the
appropriate administrator.
How to Apply
For application information, visit the Louisiana Department of
Treasury website.
Related Content
Administration
For more information on Gulf Opportunity Zone, contact the
program administrator:
Andrew Tull
225.342.9539
atull@la.gov
