Qualified Opportunity Zones are designed to spur economic development and job creation in distressed communities. These tax-incentivized census tracts were designated by the state and federal government to encourage long-term investment in these specified areas.
Throughout the United States, there are over 8,752 Qualified Opportunity Zones.
What are Qualified Opportunity Zone Funds?
Created by the Tax Cuts and Jobs Act of 2017, a Qualified Opportunity Zone Fund is an investment vehicle created to generate economic development in low-income and economically distressed communities.
As an Accredited Investor, what are the potential tax benefits?
Taxes on realized capital gains invested in a Qualified Opportunity Zone Fund within 180 days are deferred until December 31, 2026.
If held until December 31, 2026, the taxable basis on the realized capital gains invested in the fund is reduced by 10%.
If the investment in the fund is held for a minimum of ten years, there is a 100% step up in cost basis, eliminating the taxes on the growth of the investment.
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For more information regarding Opportunity Zones Frequently Asked Questions, please visit the Internal Revenue Service