Bloomberg Tax
Nov. 9, 2018, 6:23 PM

Amazon NY Could Win Big Under Tax Break Meant for Distressed Zones (Corrected)

Emma Beyer
Emma Beyer
Reporter Inc. could benefit from federal tax breaks designed to revitalize struggling communities if it builds all or part of its second headquarters in Long Island City.

The company’s eligibility comes down to whether the IRS would view a new headquarters as a new entity or as a part of Amazon’s larger umbrella.

Congress, in the 2017 tax law, established tax incentives for investors that commit to long-term projects in low-income communities. Investors can receive tax payment deferrals and additional tax cuts if their projects fall within areas designated as opportunity zones. For qualified multibillion-dollar investments, that would ...

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