Liquor stores can’t claim a hot new U.S. tax break designed to create jobs in poor communities. One of the biggest property developers for marijuana ventures says it can.
Country clubs and golf courses are barred, too — but not a wide variety of other luxury properties, such as a new hotel for visitors to Napa Valley wine country.
Massage parlors are out. But the maker of a robotic personal massager that promises “hands-free blended orgasms” just raised millions from wealthy investors planning to claim the tax break.
“It’s been great for us,” said Lora Haddock, the company’s founder.
Welcome to the quirky fine print inside President Donald Trump’s signature tax overhaul, which has created more than 8,700 opportunity zones across the country. The idea is to spur investments in areas left behind. But when crafting the law, the authors included rules from past economic-development initiatives that banned a variety of businesses deemed undesirable.
... read more at: https://fortune.com/2019/07/18/trump-tax-break-fine-print/