Pennsylvania’s Commonwealth Court has ruled that Dechert can receive a second round of Keystone Opportunity Zone tax benefits if it moves its Philadelphia headquarters from a zone where tax credits expired to a newly created zone.
The state Department of Community and Economic Development maintained that a business moving from an expired KOZ to an active one was not entitled to tax benefits. But the court granted declaratory relief to Dechert, finding the state’s interpretation of the KOZ act contrary to the act’s plain language.
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