Geiger
Development
Corporation

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What Is A KOZ?

Keystone Opportunity Zones are define-parcel-specific areas with
greatly reduced or no tax burden for property owners, residents
and businesses. KOZ’s have been designated by local communities
and approved by the state – a partnership between each
community and region among state and local taxing bodies, school
districts, economic development agencies and community-based
organizations.

 
Business Facilities magazine has called Keystone Opportunity Zones
the Number 1 Economic Development Strategy in the nation.

 
KOZ’s work through binding ordinances and resolutions that have
been passed granting the waiver, abatement or exemption of
certain state and local taxes. Depending on the situation, the tax
burden may be reduced to zero through exemptions, deductions,
abatements, and credits for the following:

     State Taxes: Corporate Net Income Taxes, Capital
    Stock & Foreign Franchise Tax, Personal Income Tax,
    Sales & Use Tax, Bank Shares and Trust Company 
    Shares Tax, Alternative Bank and Trust Company
    Shares Tax, Mutual Thrift Institutions Tax, Insurance
    Premiums Tax.

    Local Taxes: Earned Income/Net Profits Tax,
    Business Gross Receipts, Business Occupancy, Business
    Privilege & Mercantile Taxes, Local Real Property Tax,
    Sales & Use Tax. 

 
KOZ’s expire at various dates. The KOZ on the 133 acres in the
Somerset Business Park expire in 2013. For further details, see
the state of Pennsylvania website at http://koz.newpa.com

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CONTACT INFO:

888 STOYSTOWN ROAD
SOMERSET, PA 15501

PHONE:  814.279.0044
FAX:  814.445.7644
EMAIL:  larrymostoller@geigerdevelopmentcorp.com