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.
Journal of Tax Credits | April 07, 2022
Boston Community Development Finance partner Forrest Milder contributed this article examining what investors should know about pairing the opportunity zone incentive with the renewable energy investment tax credit.
Bloomberg Tax | June 05, 2020
This article quotes Boston Community Development Finance partner Forrest Milder on new Treasury guidance related to opportunity zone investors, noting what he’s been seeing in the space as well as issues that remain unaddressed.
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.
Rochester Business Journal and The Daily Record | October 11, 2019
This story quotes Rochester Affordable Housing and Real Estate partner Bruce Baker on the variety of different ways for investors to take advantage of opportunity zones, in Rochester and across the country.
Co-op and Condos Alert | 01.21.22
Community Development Finance Alert | 08.14.20
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
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