Qualified Opportunity Zones

What is a Qualified Opportunity Zone (QOZ)?

A QOZ is an economically distressed community where new investments, under certain conditions, may be eligible for preferential tax treatment. Localities qualify as QOZs if they have been nominated for that designation by a state, the District of Columbia, or a U.S. territory and that nomination has been certified by the Secretary of the U.S. Treasury via his delegation of authority to the Internal Revenue Service (IRS).

Their purpose?

QOZs are an economic development tool—that is, they are designed to spur economic development and job creation in distressed communities.

How can I take advantage of QOZ tax incentives?

You can take advantage of these tax incentives even if you don’t live, work, or have an existing business in a QOZ. All you need to do is invest the amount of a recognized eligible gain in a QOF and elect to defer the tax on that gain.

Interested in knowing more and taking advantage of these incentives near you?

If you are interested in this specialized tax incentive and are have the available resources, don’t hesitate to contact us. We’ll walk you through the information you need to know and discuss the available opportunities.

Call now to set up an appointment!