Welcome to In the Zone: GT Qualified Opportunity Zone News. Our monthly digest of the latest federal and state developments in Qualified Opportunity Zones and Qualified Opportunity Funds and related Greenberg Traurig news and events will keep stakeholders apprised of the most pressing issues in this burgeoning space.
On Capitol Hill, Opportunity Zones continue to get a lot of attention and discussion before Tax Committees. On March 14 Treasury Secretary Mnuchin appeared before the House Ways and Means and Senate Finance Committees. There was good discussion and interest level in House Ways and Means on Opportunity Zones as the new Democrat majority assesses this component of the Tax Cuts and Jobs Act, looking to determine effectiveness in achieving new majority goals.
OMB still has the most recent Opportunity Zones rule under consideration:
|AGENCY: TREAS-IRS||RIN: 1545-BP04||Status: Pending Review|
|TITLE: Qualified Opportunity Funds [TCJA]|
|STAGE: Proposed Rule||ECONOMICALLY SIGNIFICANT: No|
|RECEIVED DATE: 03/12/2019||LEGAL DEADLINE: Statutory|
Thanks to our partners for a successful event in Northern Virginia: Life Cycle of a Serial Entrepreneur – Just in Time: Qualified Opportunity Zone.
Our panelists discussed the most recent tax legislation regarding robust tax benefits when investing in Qualified Opportunity Zones. If you’ve recently sold your company or investment for a sizable capital gain, investing in a Qualified Opportunity Fund can be an effective strategy to reduce the upcoming tax bill by deferring the gain. But timing is crucial as the tax benefits are tied to a 180-day window to invest in an Opportunity Zone Fund.
- April 8: Miami-Dade County Opportunity Zones Conference & Marketplace presented by Madison Street Strategies, with James O. Lang
- May 2: Ozone Breakfast sponsored by SunTrust and the Dr. Phillips Foundation for Orlando Not-for-Profit Entities, with James O. Lang
- May 9 & 10: Opportunity Zone Expo, Las Vegas, Mandalay Bay, with James O. Lang
- May 21: Opportunity Zone Online Presentation with Ryan D. Bailine and James O. Lang
- June 2-4: 41st Annual NYU International Hospitality Investment Conference, New York Marriott Marquis with James O. Lang.
For additional information, please contact Sharon Mangione.