Created by Congress’s recent tax reform bill, opportunity zones are designated low-income areas where investors can realize attractive tax advantages. Using a Qualified Opportunity Fund (O-Fund), investors can acquire a stake in new or existing buildings, property and businesses within these zones.
The O-Zone incentive allows investors to defer payment of capital gains tax on a currently held asset, which needn’t be real estate, earn additional tax forgiveness during the term of the opportunity zone investment, and potentially eliminate tax on disposition, which may include the value created above the initial investment. Projects financed by O-Funds are also eligible for various types of tax-credit financing.
Nixon Peabody has a dynamic, cross-practice opportunity zone working group with more than 40 attorneys. We anticipate opportunity zones opening the door for high-impact investment in a variety of sectors. Our attorneys are coveted writers and speakers as investors look for insights on the future of this new tool.
Law360 | February 19, 2020
New York City Corporate partner Rick Cox provides commentary in this article about how managers of qualified opportunity funds can minimize conflicts of interest through organizational documents.
Bloomberg Tax | January 06, 2020
Boston Community Development Finance partner Forrest Milder wrote this contributed article analyzing the recently finalized IRS regulations governing opportunity zones.
Affordable Housing Finance | December 26, 2019
Boston Community Development Finance partner Forrest Milder wrote this contributed article analyzing the final IRS regulations governing opportunity zones, the tax-advantaged investment opportunity created by Congress in 2017.
Bloomberg Tax | May 15, 2019
Boston Community Development Finance partner Forrest Milder wrote this contributed article explaining the math behind determining the fair market value of a qualified opportunity fund partnership interest after 10 years.
Affordable Housing Finance | April 21, 2019
Boston Community Development Finance partner Forrest Milder discusses opportunity zones and housing in this video from the AHF Live Forum.
Bloomberg Tax | April 21, 2019
Boston Community Development Finance partner Forrest Milder is quoted in this article, discussing possible confusion stemming from the murky definition of “independent contractor” in proposed IRS rules governing opportunity zones.
Insights | March 25, 2019
New York City Corporate partner Dan McAvoy wrote this contributed article for Insights, Wolters Kluwer’s corporate and securities-focused monthly journal, exploring securities law issues related to the creation of opportunity funds.
Commercial Observer | January 21, 2019
New York City Affordable Housing & Real Estate partner Aaron Yowell is quoted extensively in this story on how potential investors in opportunity zones are navigating this complex new development vehicle.
Affordable Housing Finance | October 23, 2018
Boston Community Development Finance partner Forrest Milder is quoted extensively in this article outlining the impact of new IRS guidelines governing the use of the Opportunity Zone program for affordable housing developers.
Bloomberg Law | October 18, 2018
Boston Community Development Finance partner Forrest Milder wrote this contributed article detailing the development incentives available as part of the Opportunity Zones provisions in the 2017 tax law.
Opportunity Zones Alert | 02.27.20
Opportunity Zone & Estate Planning Alert | 01.29.20
Opportunity Zones Alert | 12.24.19
Opportunity Zones Alert | 10.31.19
Opportunity Zones Alert | 06.19.19
Opportunity Zones Alert | 05.21.19
Opportunity Zones Alert | 04.25.19
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