U.S. sets rules on tax-break zones
(WorldNews Business)

WASHINGTON -- President Donald Trump`s administration is proposing rules for investors in a new program that it says could have a big impact on economically depressed areas around the country. About 8,700 so-called opportunity zones have been set up in all 50 states to attract investors and developers with tax breaks. The rules from the Treasury Department, issued Friday, lay out the period of time that individuals or companies must hold on to their investments in the zones to avoid paying taxes on resulting profits. Administration officials say the goal of the program, established by the new tax law enacted last December, is to create businesses and jobs in low-income areas and lift...