Since their introduction, Opportunity zones have developed interest at an extraordinary pace. The program has swiftly mobilized investors, advisers, developers, and communities excited by its potential to access a vast reservoir of untapped capital to help revitalize underserved neighborhoods. The program provides an outlet for investors with capital gains to unlock substantial tax inc.
Enacted as part of the 2017 Tax Cuts and Jobs Act, the Opportunity Zones program was established to encourage social advancement and private investment in economically distressed census tracts to aid job creation and new business formation. The program incentivizes investment by allowing for the deferral of capital gains (rollover gains), reducing tax obligations on a portion of those gains, and most notably, allowing Qualified Opportunity Zone (QOZ) investments to grow tax free.
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