11/09/2019

Qualified Opportunity Zones The Tax Cuts and Jobs Act (P.L. 115-97 or New Tax Act) introduces a revitalization program for certain, designated low-income census tracts that benefits certain taxpayers.   It represents an opportunity for both real estate and operating businesses willing to locate in designated census tract areas and hold their investment for at least 10 years.  While the legislation leaves several open questions, the Internal Revenue Service on October 19, 2018 released

11/09/2018

Opportunity Zone – Primer/Summary Sheet Capital Gain deferred – up to December 31, 2026 and Investment exempt from income tax if held ten (10) years. Gain must be put in a qualified opportunity fund (“QOF") QOF - investment vehicle in which at least 90% of its assets are held in qualified opportunity zone (“QOZ”) property. QOZ Property - 3 categories:           QOZ Stock      QOZ Partnership Interest      QOZ Business Property QOZ Stock: - acquired by QOF after December 31, 2017 for