Wednesday, October 24, 2018

The New Opportunity Zone Program (Video)

Our guest speakers, Miriam Sheehan, a partner at Nolan Sheehan Patten LLP, and Nicholas Ratti, a Principal at CohnReznick, will discuss the new Opportunity Zone Program. 

The Opportunity Zone Program, created as part of the 2017 Tax Cuts and Jobs Act, allows investors to reinvest proceeds from a capital transaction in specially designated Opportunity Zones proposed by each state, which are generally low-income census tracts, and delay and ultimately avoid tax recognition of these gains.  In addition, the U.S. Treasury can certify Opportunity Funds which will be created to pool and deploy investment capital in Opportunity Zones for eligible purposes (e.g., stock, partnership interest, and business property).  This program therefore has the potential to increase investors' (including tax credit investors) returns on various community development projects. 

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