Opportunity Zones in Wichita provide even more options to be part of the community’s remarkable transformation. As the largest city in Kansas with a central global location and world-class talent pipeline, the greater Wichita region is full of possibilities and positioned for growth.
Download the Opportunity Zones prospectus and contact Andrew Nave to explore this exciting new investment opportunity in Wichita.
Opportunity Zones Overview
Established in the Tax Cuts and Jobs Act of 2017, Opportunity Zones provide tax incentives for investment in designated census tracts supporting new investments and redevelopments in the community. In April of 2018, 74 census tracts across the state of Kansas were nominated to be designated Opportunity Zones by the U.S. Department of Treasury, nine of which are located in Wichita.
How Opportunity Zones Work
For the investor, the Opportunity Zone program offers tax incentives including deferral and reduction of capital gains taxes when the gain is invested in a Qualified Opportunity Fund and maintained for a period of at least five years. Investors can defer tax on any prior gains invested in a Qualified Opportunity Fund (QOF) until the earlier of the date on which the investment is sold or exchanged or December 31, 2026. If the Qualified Opportunity Fund investment is held for longer than five years, there is a 10% exclusion of the deferred gain with that increasing to 15% after seven years. If the investor holds the QOF investment for at least 10 years, the investor is eligible for permanent exclusion from taxable income of capital gains accrued on the QOF investment.
Wichita Opportunity Zones
With nine land tracts located in Wichita designated as Opportunity Zones, contiguous tracts were combined to form five larger zones: