Rhode Island Budget Bill Provides OZ Capital Gains Relief after Seven Years

Monday, July 8, 2019 - 10:00am

A provision in Rhode Island’s fiscal year 2020 state budget allows taxpayers to avoid paying capital gains taxes on opportunity zones (OZ) investments after holding the investment seven years. The provision is similar to the federal OZ incentive provision that allows the same benefit after 10 years. The budget bill was signed Friday by Gov. Gina Raimondo.