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In the Zone - A Qualified Opportunity Zone Overview

By Kent L. Schwarz, Esq. and Sarah L. Davis, Esq

The Tax Cut and Jobs Act added new Section 1400Z to the Internal Revenue Code, which provides a valuable incentive for investing in so-called “Qualified Opportunity Zones” (“QOZ”). Opportunity Zones are economically deprived areas designated by each state. Under Section 1400Z, any taxpayer realizing a capital gain can defer or eliminate tax on the capital gain by investing all or a portion of the gain in a Qualified Opportunity Zone Fund (“QOF”). If the QOF investment is held for ten years, gain on the QOF investment is also eliminated, providing a powerful incentive to invest in a QOF. Read more

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