On April 17, the Internal Revenue Service (“IRS”) issued new proposed regulations to address a number of the outstanding questions and ambiguities pertaining to the Opportunity Zone program. The hope is that the new IRS guidance will spur significant Opportunity
Sills Cummis & Gross P.C.
Sills Cummis & Gross P.C. is a regional law firm based in New Jersey that provides legal services across multiple practice areas. The firm frequently publishes content related to real estate development, environmental law, state and local incentives, land use, and economic development. Their publications often address regulatory changes, redevelopment challenges, tax credit incentives, and litigation matters affecting businesses and municipalities. The firm also covers topics such as transit-oriented development, brownfield redevelopment, and community benefits in urban planning. Sills Cummis & Gross serves clients involved in commercial real estate, environmental remediation, and public policy, offering insights into legal and regulatory frameworks impacting these sectors.
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New Jersey Division of Taxation Provides Additional Guidance for Remote Sellers
The New Jersey Division of Taxation has updated its “Frequently Asked Questions” guidance pertaining to changes for determining nexus for sales and use tax purposes for remote sellers based outside the state. In response to the U.S. Supreme Court case…
New Jersey Division of Taxation Announces Conformity with Opportunity Zone Tax Benefits
This week, the New Jersey Division of Taxation issued key guidance on the Opportunity Zone program. The guidance provides that New Jersey will conform to federal tax rules when it comes to the Opportunity Zone tax benefits for gross income…
Additional Opportunity Zone Guidance Could be Delayed…Again
In light of the federal government shutdown, the hearing scheduled for January 10 to hear comments on proposed regulations pertaining to the Opportunity Zone program has been cancelled. Click here to read more.
We will keep you apprised of
New Jersey Division of Taxation Issues Detailed New Guidance on CBT Changes
The New Jersey Division of Taxation has recently created a webpage with a host of different guidance documents and FAQs the Division has put together to answer questions and provide more clarity on combined reporting, the new surtax, GILTI treatment…
National study ranked nearly 8,000 Opportunity Zone tracts in 2 categories: Newark had one in Top 10 of both
By Ted Zangari
As seen on: ROI-NJ.com
The city of Newark has one of the top locations in the country for investors looking to take advantage of the new Opportunity Zone Program, according to a national study released Thursday morning.
The LOCUS National Opportunity…
In the News> National Study Ranked Nearly 8,000 Opportunity Zone Tracts in 2 categories: Newark had one in Top 10 of both
By Ted Zangari
As seen on: ROI-NJ.com
By Tom Bergeron
The city of Newark has one of the top locations in the country for investors looking to take advantage of the new Opportunity Zone Program, according to a national study released Thursday morning.…
In the News> Executive Order on Establishing the White House Opportunity and Revitalization Council
On December 12, 2018, President Donald J. Trump issued an Executive Order establishing the White House Opportunity and Revitalization Council.
Start Raising Capital or Wait for Additional Guidance?
Enough time has passed since the IRS issued its first substantive round of draft regulations and guidance on the federal Opportunity Zone program for certain Qualified Opportunity Fund (“QOF”) managers to begin their capital raise. Some Funds are still working…
Breaking News: Legislation Introduced to Extend & Amend Grow NJ Incentive
By Ted Zangari
The powerful chair of the Assembly Budget Committee, Eliana Pintor Marin, has introduced legislation to extend the Grow NJ employer incentive program currently set to expire next July. Trenton sources report that a companion bill will be introduced on the…