Tax Breaks for Gigabit Opportunity Zones

Special tax breaks for empowerment zones expired at the end of 2016.  A new bill (S. 1031) would create gigabit opportunity zones and similar tax breaks to encourage broadband investments in these areas. The bill’s sponsor, Sen. Capito (R-WV) notes that 56% of West Virginians don’t have access to broadband (it’s 74% in rural areas). While small businesses likely won’t reap these tax breaks, those located in these zones will benefit from gaining broadband access.