(1) the property is acquired by the taxpayer (from an unrelated party) after the zone or community designation took effect;

(2) the original use of the property in the zone or community commences with the taxpayer; and

(3) substantially all of the use of the property is in the zone or community in the active conduct of a trade or business by the taxpayer in the zone or community. In the case of property which is substantially renovated by the taxpayer, however, the property need not be acquired by the taxpayer after zone or community designation or originally used by the taxpayer within the zone or community if, during any 24-month period after zone or community designation, the additions to the taxpayer's basis in the property exceed the greater of 100 percent of the taxpayer's basis in the property at the beginning of the period, or $5,000."

Call us at 866-867-3795. Ask for the D.C. Investment and Tax Report. We appreciate your interest and your business. To receive a copy of the report, order the report here.

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Qualified Zone Businesses

Qualified Zone Property

First posted on 10/12/1997 by Creative Investment Research, Inc.

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