The U.S. Department of Transportation has released an interactive map that provides details about significant transportation-related facilities, such as highway exits, train stations, and bus stops, that are located in or near Opportunity Zones. Click here to read more.
Federal Opportunity Zones
The source on federal Opportunity Zones for investors, fund managers and project developers
The Federal Opportunity Zones blog, published by Sills Cummis & Gross P.C., focuses on legal developments and practical guidance related to the Opportunity Zone program. It covers topics such as IRS regulations clarifying investment requirements, tax benefits and compliance issues, real estate development within Opportunity Zones, business investment criteria, and state-level conformity with federal tax rules. The blog also discusses government resources like transportation facility maps relevant to Opportunity Zones and highlights studies ranking Opportunity Zone tracts for investment potential. It serves as a resource for understanding the intersection of tax law, real estate, and economic development incentives under the Opportunity Zone framework.
Latest from Federal Opportunity Zones
Much-Needed Clarity Finally Arrives for Reaching the Land of OZ
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…
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
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…
In the News> Opportunity Zones: Giving Low-Income Areas Opportunity Was Easy. Making Sure They Are Ready Is Bigger Challenge
By Ted Zangari
As seen on: ROI-NJ.com
By Tom Bergeron
The panelists at the Opportunity Zone program were a bit bombastic when it came time to describe the potential the program has in low-income areas.
“Too good to be true,” said one.
“We’ve…
Opportunity Zone Guidance Released with Some Answers and Some Outstanding Questions
On October 19, 2018 the Internal Revenue Service (“IRS”) unveiled its long-awaited guidance on the Opportunity Zone program. The IRS released proposed regulations which have a 60-day notice and comment period before being finalized. Although the regulations may not be…
In the News> NJ Governor May Join Rutgers Panel to Discuss Opportunity Zones Monday
By Ted Zangari
In an exclusive audio interview, Newark real estate attorney Ted Zangari says investors need to start identifying appreciated assets quickly so that they can engage in Opportunity Zone transactions before the end of 2019 to gain the maximum tax advantages.…