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Keystone Opportunity Zones

WHAT IS A KEYSTONE OPPORTUNITY ZONE?

Keystone Opportunity Zones (KOZs) are areas designated by the Commonwealth of Pennsylvania that would benefit from additional investment. Businesses in these areas are exempt from most business taxes. The Department of Commerce manages this program for properties in Philadelphia.

KOZs target sites that are:

  • Abandoned.
  • Unused.
  • Underutilized.

Properties and businesses located within these designated zones pay little-to-no state and local business taxes.

This is done through:

  • Tax credits.
  • Tax waivers.
  • Broad-based tax abatements.

The tax relief is temporary.

WHERE ARE PHILADELPHIA’S KOZs?

View the KOZ Property Map

APPLICATION + GUIDELINE INFORMATION

If you are located or going to locate in the KOZ and are interested in applying, click on one of the following links:

To fill out the application online, click KOZ Application

N. B. If you own property and lease it out, even to your own operating company, make sure you check BOTH “real property owner” and “business” on the application.

If there is something that you forgot to add or need to change something on your application, please fill out a change of status form.

To view the guidelines of the program, click here.

WHAT TAXES ARE WAIVED OR REDUCED?

STATE TAXES

  • Corporate Net Income
  • Capital Stock & Foreign Franchise Tax
  • Personal Income Tax (Partnerships & Sole Proprietors)
  • Sales & Use Tax
  • Mutual Thrift Institutions Tax
  • Insurance Premiums Tax

CITY TAXES

  • Business Privilege Tax
  • Net Profits Tax
  • Real Estate Taxes
  • Sales and Use Tax

CONSULT YOUR ACCOUNTANT TO SEE HOW THESE BENEFITS APPLY TO YOUR PARTICULAR COMPANY.

Click to view FAQs