The Tax Cuts and Jobs Act enacted on December 22, 2017 unveiled new tax incentives designed to encourage long-term private investment in certain designated areas throughout the United States.
The “Opportunity Zones” program (the “Program”), codified in Sections 1400Z-1 and 1400Z-2 of the Internal Revenue Code, allows investors to receive three significant tax benefits in exchange for investing in funds (“QO Funds”)1 newly created to invest at least 90% of their assets in businesses and real estate within low-income communities designated as Qualified Opportunity Zones (“QO Zones”).
Investors should be aware of new tax benefits of investing in certain geographical areas. This Client Alert, co-authored by Real Estate Practice Group members Chad Richman and Mariana Molina details these benefits.
Click the button below to read the full alert.