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Last week, the IRS issued a second round of regulations related to the Qualified Opportunity Zone Program.  This follows a first round of regulations that were released in October 2018.  The new regulations provide more clarity and help answer some persisting questions.

Here are a few of the common questions:oppzones_792x800
  • What is a “trade or business” for purposes of the opportunity zone incentive?
  • How do we decide when and how we can defer Section 1231 gains?
  • What is the definition of “substantially all” for purposes of qualified opportunity zone stock, partnership interest, and property?
  • Is raw land considered QOZBP?
  • Can a QOF or QOZB lease property and have it meet the definition of QOZBP?
  • What types of events will trigger deferred gain during an investors holding period in a QOF?
  • Does an investor have to sell the equity interest in a QOF after ten years, or can the QOF sell its assets with the gain still being tax-free to the investor?
  • What happens to an investor if a QOF sells some of its QOZBP during the ten-year holding period? 
  • How does an operating business pass the "more than 50% test?"
  • How does the "original use" test work if you purchase a yet-to-be completed building or a building that has been vacant for years?

The answers to these questions are provided by RubinBrown’s own Tony Nitti.  Tony authors a column in Forbes, as well as provides training on the tax laws to practitioners across the country.

Click here to read Tony Nitti’s recent article in Forbes.

Click here to listen to Tony Nitti’s podcast that was posted on OpportunityDb.com.


RubinBrown was also honored to be a part of a panel discussion on opportunity zones at the Impact Investing Symposium at Washington University on April 25.  Click here to check out the agenda.

 

 

 

 

April 26, 2019

Last week, the IRS issued a second round of regulations related to the Qualified Opportunity Zone Program.  This follows a first round of regulations that were released in October 2018.  The new regulations provide more clarity and help answer some persisting questions.


Here are a few of the common questions:oppzones_792x800
  • What is a “trade or business” for purposes of the opportunity zone incentive?
  • How do we decide when and how we can defer Section 1231 gains?
  • What is the definition of “substantially all” for purposes of qualified opportunity zone stock, partnership interest, and property?
  • Is raw land considered QOZBP?
  • Can a QOF or QOZB lease property and have it meet the definition of QOZBP?
  • What types of events will trigger deferred gain during an investors holding period in a QOF?
  • Does an investor have to sell the equity interest in a QOF after ten years, or can the QOF sell its assets with the gain still being tax-free to the investor?
  • What happens to an investor if a QOF sells some of its QOZBP during the ten-year holding period? 
  • How does an operating business pass the "more than 50% test?"
  • How does the "original use" test work if you purchase a yet-to-be completed building or a building that has been vacant for years?

The answers to these questions are provided by RubinBrown’s own Tony Nitti.  Tony authors a column in Forbes, as well as provides training on the tax laws to practitioners across the country.

Click here to read Tony Nitti’s recent article in Forbes.

Click here to listen to Tony Nitti’s podcast that was posted on OpportunityDb.com.


RubinBrown was also honored to be a part of a panel discussion on opportunity zones at the Impact Investing Symposium at Washington University on April 25.  Click here to check out the agenda.
 
 
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