State Tax Code Conformity - Personal Income
A state’s conformity with the federal opportunity zones provisions is an important factor investors should consider. Investors in states that do conform with the federal opportunity zones provisions may receive state tax incentives similar to those available at the federal level. Conversely, investors residing in nonconforming states may be unable to defer and reduce state taxation on the initial gains invested in opportunity zones. Investors in these nonconforming states may also be required to recognize gain for state tax purposes on their eventual sale of the opportunity fund investment.
Legend
| Full Conformity - Rolling: The state automatically conforms to the current IRC as it is amended. | |
| Full Conformity - Adopted: The state conforms to the IRC as of a specific date that is after the enactment of the Opportunity Zones legislation. | |
| Limited Conformity: The state conforms with Section 1400Z-2 in certain limited circumstances. | |
| No Capital Gains Tax: Has no state income tax/generally does not tax capital gains. | |
| Nonconformity: The state conforms to the IRC as of specific date prior to the enactment of the Opportunity Zones legislation or the state has specifically decoupled from the Opportunity Zones provisions of the IRC. |
The links in the map above take users to the relevant state information below, which is maintained by Novogradac & Company. Information is provided as a reference and the validity of the data cannot be guaranteed.
Alabama |
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| IRC Conformity Status | Limited Conformity |
| Authority | |
Alaska |
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| IRC Conformity Status | No Capital Gains Tax |
| Authority |
|
Arizona |
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| IRC Conformity Status | Full Conformity - Adopted |
| Authority | Arizona H.B. 2757 |
Arkansas |
|
| IRC Conformity Status | Limited Conformity |
| Authority |
Arkansas SB 196 (State code will be posted here once it’s updated) |
California |
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| IRC Conformity Status | Nonconformity |
| Authority | |
Colorado |
|
| IRC Conformity Status | Full Conformity - Rolling |
| Authority | |
Connecticut |
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| IRC Conformity Status | Full Conformity - Rolling |
| Authority | |
Delaware |
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| IRC Conformity Status | Full Conformity - Rolling |
| Authority | |
District of Columbia |
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| IRC Conformity Status | Full Conformity - Rolling |
| Authority | |
Florida |
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| IRC Conformity Status | No Capital Gains Tax |
| Authority |
|
Georgia |
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| IRC Conformity Status | Full Conformity - Rolling |
| Authority | |
Hawaii |
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| IRC Conformity Status | Limited Conformity |
| Authority | |
Idaho |
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| IRC Conformity Status | Full Conformity - Adopted |
| Authority | |
Illinois |
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| IRC Conformity Status | Full Conformity - Rolling |
| Authority | |
Indiana |
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| IRC Conformity Status | Full Conformity - Adopted |
| Authority | |
Iowa |
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| IRC Conformity Status | Full Conformity - Adopted |
| Authority | |
Kansas |
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| IRC Conformity Status | Full Conformity - Rolling |
| Authority | |
Kentucky |
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| IRC Conformity Status | Full Conformity - Adopted |
| Authority | |
Louisiana |
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| IRC Conformity Status | Full Conformity - Rolling |
| Authority | |
Maine |
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| IRC Conformity Status | Full Conformity - Adopted |
| Authority | |
Maryland |
|
| IRC Conformity Status | Full Conformity - Rolling |
| Authority |
Md. Code Ann. Tax-Gen. § 10-108 |
Massachusetts |
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| IRC Conformity Status | Nonconformity |
| Authority | |
Michigan |
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| IRC Conformity Status | Full Conformity - Adopted |
| Authority | |
Minnesota |
|
| IRC Conformity Status | Full Conformity - Adopted |
| Authority | |
Mississippi |
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| IRC Conformity Status | Nonconformity |
| Authority |
While Mississippi does not generally conform to the IRC, per the instructions for Form 80-105, Line 39, Mississippi generally follows IRS rules concerning computation of capital gains and losses. |
Missouri |
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| IRC Conformity Status | Full Conformity - Rolling |
| Authority | |
Montana |
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| IRC Conformity Status | Full Conformity - Rolling |
| Authority | |
Nebraska |
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| IRC Conformity Status | Full Conformity - Rolling |
| Authority | |
Nevada |
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| IRC Conformity Status | No Capital Gains Tax |
| Authority |
|
New Hampshire |
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| IRC Conformity Status | No Capital Gains Tax |
| Authority | |
New Jersey |
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| IRC Conformity Status | Full Conformity - Adopted |
| Authority |
Notice: Federal Tax Cuts and Jobs Act (TCJA) – Opportunity Zones |
New Mexico |
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| IRC Conformity Status | Full Conformity - Rolling |
| Authority | |
New York |
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| IRC Conformity Status | Limited Conformity |
| Authority | |
North Carolina |
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| IRC Conformity Status | Nonconformity |
| Authority | |
North Dakota |
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| IRC Conformity Status | Full Conformity - Rolling |
| Authority | |
Ohio |
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| IRC Conformity Status | Full Conformity - Adopted |
| Authority | |
Oklahoma |
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| IRC Conformity Status | Full Conformity - Rolling |
| Authority | |
Oregon |
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| IRC Conformity Status | Full Conformity - Adopted |
| Authority | |
Pennsylvania |
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| IRC Conformity Status | Full Conformity - Adopted |
| Authority | |
Rhode Island |
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| IRC Conformity Status | Full Conformity - Rolling |
| Authority | |
South Carolina |
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| IRC Conformity Status | Full Conformity - Adopted |
| Authority | |
South Dakota |
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| IRC Conformity Status | No Capital Gains Tax |
| Authority |
|
Tennessee |
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| IRC Conformity Status | No Capital Gains Tax |
| Authority |
|
Texas |
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| IRC Conformity Status | No Capital Gains Tax |
| Authority |
|
Utah |
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| IRC Conformity Status | Full Conformity - Rolling |
| Authority | |
Vermont |
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| IRC Conformity Status | Full Conformity - Adopted |
| Authority | |
Virginia |
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| IRC Conformity Status | Full Conformity - Adopted |
| Authority | |
Washington |
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| IRC Conformity Status | Nonconformity |
| Authority | RCW 82.87.020 |
West Virginia |
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| IRC Conformity Status | Full Conformity - Adopted |
| Authority | |
Wisconsin |
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| IRC Conformity Status | Full Conformity - Adopted |
| Authority | |
Wyoming |
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| IRC Conformity Status | No Capital Gains Tax |
| Authority |
|