Federal Resources & Incentives

Portions of Athol are located in an Opportunity Zone.   Here is a link to the Opportunity Zone map including where Opportunity Zones in Athol are located (this includes their Opportunity Zone census track numbers).  Opportunity Zones offer investors three specific federal incentives for cashing out of these investments and putting their capital gains to work supporting the economic development of low income communities.    This includes Temporary deferrals, Step-Up In Basis, and permanent exclusion of fund gains.   We have also provided a link to a visual of how Opportunity Zones work.

Investment Tax Credits are a tax credit given to eligible corporations engaged in manufacturing, research and development, agriculture and commercial fishing.   These eligible corporations may earn a credit for the purchase or lease of qualifying tangible properties which include:  tangible personal property, other tangible property including, buildings and structural components of buildings acquired by purchase; during the tax year the "qualifying tangible property" must have been either:  acquired, constructed, reconstructed or erected.   

Historic Preservation Tax Incentives.   Certified historic structures identified through the National Park Service and state historic preservation officials are eligible for individual or business income tax credits of up to 20% of the cost of rehabilitation for income-producing uses.