Gulf Opportunity Zone

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.

To determine if your business or employees are in a GO Zone, visit YourTaxClaim.com.

For comprehensive rules and details on eligibility, please review Related Content below and contact the appropriate administrator.

How to Apply

For application information, visit YourTaxClaim.com or contact Louisiana Economic Development.

Administration

For more information on Gulf Opportunity Zone, contact the program administrator:

Stan Fulcher
225.342.9719
fulcher@la.gov