The Tax Cuts and Jobs Act, which was enacted in late 2017, included a tax incentive for investments in “qualified opportunity zones,” or QO zones. On June 20, 2018, the U.S. Treasury issued Notice 2018-48, which included the designations of QO zones in all 50 states and the District of Columbia.
The Tax Cuts and Jobs Act, which was enacted in late 2017, included a tax incentive for investments in “qualified opportunity zones,” or QO zones. On June 20, 2018, the U.S. Treasury issued Notice 2018-48, which included the designations of QO zones in all 50 states and the District of Columbia.
This new tax incentive permits an electing taxpayer to defer eligible gain that would otherwise be recognizable on a sale or exchange of property if the taxpayer invests such gain in a designated QO zone. More specifically, the taxpayer must invest in a certified “qualified opportunity fund,” or QO fund. QO funds must meet various requirements relating to their underlying assets.
In many instances, the possibilities afforded by a tax incentive, like this one, are clouded by the complexities in understanding it and qualifying for it. The purpose of this page is to provide resources to taxpayers considering investments in QO funds, QO fund managers and owners of property and/or businesses in designated QO zones.
Williams Mullen’s real estate and tax attorneys are committed to helping you stay informed on the latest developments related to QO Zones. Please click below to download valuable content in our resource library. If you have any specific questions, please reach out to one of our lawyers for more information.
News
-
10.11.2021
Ding Dong, the OZ Ground Lease (May Be) Dead!
-
02.12.2021
IRS Provides Further Opportunity Zone Relief by Extending Timelines
-
12.30.2020
Jenny Connors Writes on The Future of Opportunity Zone Tax Benefits for Real Estate
-
06.09.2020
IRS Provides Much-Needed Relief for OZ Investors, QOFs and OZ Businesses
-
04.15.2020
IRS Provides OZ Relief for Some, But Not All
-
10.22.2019
Jenny Connors Named to Style Weekly's Top 40 Under 40
-
04.29.2019
Jenny Connors Quoted in Virginia Business on Opportunity Zones
-
04.22.2019
The Second Tranche of Opportunity Zone Regulations: Answers to “Substantially All” of Our Lingering Questions
-
04.10.2019
The Virginia Gazette Covers Presentation on Opportunity Zones by Jenny Connors
-
10.24.2018
The Recent Qualified Opportunity Zone Guidance: What We Know, What We Don’t and What It All Means
-
10.19.2018
Treasury and IRS Issue Proposed Qualified Opportunity Zone Regulations
-
10.18.2018
Status Update on OZ Proposed Regulations
-
09.13.2018
Seeking Guidance? QO Zone Regulations Imminent
-
08.29.2018
Preston Lloyd Named to 2018 Class of Up & Coming Lawyers by Virginia Lawyers Weekly
-
07.26.2018
Williams Mullen Announces Qualified Opportunity Zones Resource Page
-
06.04.2018
Jenny Connors Writes on Tax Incentives of Qualified Opportunity Zones in Virginia for Law360
Events
-
03.11.2022
Opportunity Zones/Tax Updates for Real Estate
-
10.29.2019
Investing in Opportunity: An In-Depth Discussion of the Opportunity Zone Tax Incentive Program
-
07.25.2019
Newport News Opportunity Zones Information Seminar
-
07.11.2019
Wealth Transfer Planning with Qualified Opportunity Zone Fund Interests
-
05.16.2019
Venturing Into the Land of OZ – An Opportunity Zone Conference
-
04.23.2019
An Opportunity Zone Market Update
-
04.09.2019
Opportunity Zones – Williamsburg Economic Development Authority
-
02.22.2019
The Qualified Opportunity Zone Tax Incentive
-
02.22.2019
Estate Planning Meets The Qualified Opportunity Zone Tax Incentive
-
02.22.2019
2019 Fiduciary Focus
-
02.20.2019
Opportunity Zone Investments
-
01.10.2019
Qualified Opportunity Zones Seminar
-
01.08.2019
Coffee Convesations: Understanding Taxes
-
10.31.2018
Fall 2018 Tax Forum
-
09.18.2018
New Opportunity Zones – What’s in them for LIHTC properties?
-
Jenny H. Connors
Partner- Phone:804.420.6582
- Email:Email
-
J. Conrad Garcia
Partner- Phone:804.420.6910
- Email:Email
-
T. Preston Lloyd, Jr.
Partner- Phone:804.420.6615
- Email:Email
-
John M. Mercer
Partner- Phone:804.420.6443
- Email:Email