Trump club is in tax break zone, but is unlikely to benefit
Posted Dec 14, 2018 07:02:51 PM.
This article is more than 5 years old.
NEW YORK — President Donald Trump’s company owns a golf club in an Opportunity Zone offering massive tax breaks, but experts say it is unlikely it could take advantage of them.
The Trump National Golf Club outside Philadelphia is in one of the nation’s nearly 9,000 high-poverty areas offering the breaks to spur investment, create jobs and lift incomes. But federal law bans “sin businesses” from benefiting, and cites golf courses and country clubs in a list of examples.
A Mississippi company that has partnered with the Trump Organization in a hotel venture could benefit, though. It plans to open at least one Trump-licensed hotel in a zone in the state, and is considering other sites in zones for another Trump hotel.
Bernard Condon And Stephen Braun, The Associated Press
