The Leader - September 2007 - (Page 23) Why Locating or Expanding in Mississippi is Smarter Than Ever. Right now, the Gulf Opportunity Zone Act of 2005 makes it more attractive than ever. Through GO Zone initiatives, businesses locating or expanding in Mississippi can realize significant cost savings. GO Zone 50% Bonus Depreciation Incentive income tax incentive allows businesses extra 50% in depreciation expenses. may be applied to certain is depreciation to claim an e GO Zone Federal New Markets Tax Credits GO Zone New Markets Tax Credits, an Federal Government to alternative financing tool, are issued by the encourage investment in low-income census track areas. Currently, an extra one billion dollars in new markets tax credits are available for use only in the GO Zone – which reduction of interest costs. can result in a substantial movable property through the end of 2007 and commercial real property through 2008. For areas most affected by the hurricane, this date is extended through 2010. In addition, losses for up to five years to recapture taxes paid in prior years. created by this deduction may be carried back Other Advantages In businesses may expense 50% of demolition through the end of 2007, receive expanded addition, through the GO Zone, Additional Bonding Authority GO Zone tax-exempt private activity bonds are financing instruments that can provide attractive savings. Businesses can expect to save approximately 2% on and rehabilitation of commercial property traditional financing options. their overall rate compared to historic tax credits, and take advantage of the expensing exclusively for small businesses. enhanced section 179 1-800-360-3323 www.mississippi.org For more information about Mississippi’s GO Zone, go to mississippi.org/gozone. http://www.mississippi.org http://www.mississippi.org http://mississippi.org/gozone
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