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July 19, 2008

The Gulf Opportuntiy Zone - Go Zone

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Alabama Go Zone Information
 
The Go Zone Act cover 11 counties in Alabama. If your business currently operates or is considering expanding in these counties, you may qualify for the special opportunities the Go Zone Act provides.
 
The 50% bonus depreciation applies to business investments on non-residential property, residential rental property used in conducting business, and assets used in the region.
State of Alabama Designated Go Zone Counties.
 
Alabama Counties Designated by the Go Zone Act.
Baldwin Choctaw
Clarke Greene
Hale Marengo
Mobile Pickens
Sumter Tuscaloosa
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50% Bonus Depreciation
The Go Zone Act provides for significantly increased depreciation deductions for the first year.
Example:
Let's assume you invest $2.5 million in an apartment building. Without the Go Zone incentives, the depreciation amount would be $49,250. When the Go Zone Act is taken into consideration the first year's depreciation escalates to $1.274 million.
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