The Tax Cuts and Jobs Act of 2017 created an important economic development tool, qualified opportunity zones (QOZs), to incentivize private investment in businesses, projects and commercial property in economically distressed communities. Governors from all states, including Minnesota, have now designated areas as QOZs which are eligible for tax-advantages. IRC Sections 1400Z-1 and 1400Z-2 and the related regulations and guidance provide that real estate and other investors can defer current capital gains, increase basis in long-term investments, and qualify for tax abatement by reinvesting capital gain proceeds.
This webinar will provide an introduction to the requirements for investment in QOZs, and how to structure a QOZ investment to obtain the capital gain deferral and step up in the basis provided under the new tax law, with a focus on opportunities in Minnesota and recent federal developments.
|Thursday, Sept. 10, 2020
2:00 p.m. – 3:00 p.m. CST
|Margaret J. Weil
Of Counsel, Minneapolis