Legal Alert: Real estate unlocked: Opportunity zones offer tax incentives to investors
Posted on Sep 7, 2018 in Legal Alerts, Uncategorized
As part of the Tax Cuts and Jobs Act of 2017, Congress added new rules to the Internal Revenue Code intended to promote investments in low-income communities designated as “qualified opportunity zones.”
- Deferral of tax on gains reinvested in Opportunity Funds and reduction or elimination of tax on such investments held for extended periods are the OZ Program’s carrots.
- Qualifying real estate development/redevelopment projects could be especially attractive opportunities under the program.
While regulations are needed to answer some questions, early investors stand to reap the greatest benefits.