Federal Opportunity Zones

The source on federal Opportunity Zones for investors, fund managers and project developers

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Opportunity Zones: What is All the Fuss About?

By Ted Zangari & Sills Cummis & Gross P.C.

October 22, 2018

When the Tax Cuts and Jobs Act was being negotiated and considered by Congress at the end of 2017, most practitioners, developers, and business owners were trying to assess its impacts on the mortgage interest limitation, the cap on the state and local tax deduction, 1031 exchanges, immediate expensing of business assets, and other key issues. In that flurry of negotiation and analysis, a powerful federal tax incentive was added to the law that could…

Federal Opportunity Zones

IRS to Release Long-Awaited Regulations for Opportunity Zone Program Today

By Ted Zangari, Steven R. Kamen, Michael R. Leighton & Sills Cummis & Gross P.C.

October 19, 2018

Sills Cummis has learned that later today the Internal Revenue Service will be releasing the long-awaited regulations for the new federal Opportunity Zone program together with a revenue ruling and a key document, the Form 8996 for self-certification by OZ funds. Please return to this site over the weekend and beyond for a continually-updated summary and analysis of the program rules.…

Federal Opportunity Zones

Opportunity Zones—Curb Your Enthusiasm (Maybe…)

By Ted Zangari & Sills Cummis & Gross P.C.

September 20, 2018

The federal opportunity zone program offers the potential for directing new and significant capital investment to some of the country’s areas in need of development. When describing the program, we have referred to it as the next big thing in economic development that could usher in the greatest transfer of wealth this country has seen in decades. However, as federal regulators continue to delay in issuing any meaningful guidance, many investors, fund managers and project…

Federal Opportunity Zones

In the News> Opportunity Zones and Tax Credits: A Match Made In…?

By Ted Zangari

August 1, 2018

As seen on: HousingFinance.com By: Catalina Vielma Opportunity Zones have officially become the industry’s buzz phrase for 2018. Since the passage of the Tax Cuts and Jobs Act, we have watched governors designate which census tracts they want to favor and listened as the states forecast the potential impact on their local economy. As I visit developers and housing finance agencies across the country, I continually hear this question: “It sounds great, but how do…

Federal Opportunity Zones

In the News> (Big) Opportunity Knocks: Why Sills Cummis’ Attorneys Feel Opportunity Zones Could Bring ‘Greatest Wealth Transfer in History of Country’

By Ted Zangari & Sills Cummis & Gross P.C.

July 30, 2018

As seen on: ROI-NJ.com By: Tom Bergeron In this ROI-NJ interview, Sills Cummis’ Ted Zangari and Jaime Reichardt share their insights on the recently enacted federal Opportunity Zone Program. Ted Zangari, chair of the Redevelopment Law Practice Group at Sills Cummis & Gross P.C. in Newark, is one of the most prominent public incentives and real estate attorneys in the state. His law firm colleague Jaime Reichardt chairs the firm’s state and local tax practice and…

Federal Opportunity Zones

In the News> When Opportunity Knocks: Cities Eager to Take Advantage of Opportunity Zones

By Ted Zangari

July 25, 2018

As seen on: Bisnow.com By: Joseph Pimentel, Bisnow Los Angeles In Downtown Long Beach, million-dollar homes, high-end condominiums and luxury apartments line Ocean Boulevard, just a few steps from the beach. The waterfront has high-rise hotels, towering office buildings and chic retail and restaurants. The city also has pockets of abject poverty. > Link to Full Article on Bisnow.com…

Federal Opportunity Zones

In the News> Fixing America’s Forgotten Places

By Ted Zangari

July 24, 2018

Opportunity Zones, created by Trump’s tax law, are meant to help the heartland thrive and make the country more equal—but can they pull it off? As seen on: TheAtlantic.com By: Annie Lowrey FRESNO, Calif.—Census tract 06019000100 has a lot going for it. Locals cheer the melting-pot atmosphere, the arts scene, the nearby nature, and the affordable housing—affordable in national terms, which feels all the more amazing given that it is a quick drive both to…

Federal Opportunity Zones

A New Opportunity for Deferring and Reducing Capital Gains While Making Attractive Investments in America’s Distressed Areas

By Sills Cummis & Gross P.C.

July 5, 2018

If you or your companies or clients are holding appreciated property of any kind, whether in the form of investments like stock, bonds, or a passive investment in a pass-through entity, or in the form of vacant land or a commercial or residential building, or other capital assets, there is a new opportunity to sell the property and defer and reduce the capital gain, while investing in a new business or property that could potentially…

Federal Opportunity Zones

New York and Pennsylvania Nominate Their Choices for Opportunity Zones

By Sills Cummis & Gross P.C.

April 24, 2018

Late last week, the governors of New York and Pennsylvania submitted their selections for opportunity zone designations to the U.S. Department of Treasury. Those nominations are expected to be approved by Treasury to take advantage of the new federal tax incentive program. The federal Opportunity Zone program is a new tax incentive designed to direct investor capital into various low-income and distressed areas around the country. The program affords investors the opportunity to defer and…

Federal Opportunity Zones

New Jersey “Opportunity Zones” Just Revealed

By Ted Zangari & Sills Cummis & Gross P.C.

April 10, 2018

The U.S. Department of Treasury’s Community Development Financial Institutions Fund has just released the list of New Jersey’s approved Opportunity Zones. The Opportunity Zones are identified by specific census tracts provided below. The federal Opportunity Zone program is a new tax incentive designed to direct investor capital into various low-income and distressed areas around the country. On March 21, Governor Murphy submitted New Jersey’s list of eligible census tracts seeking Opportunity Zone designation.…

Federal Opportunity Zones

The source on federal Opportunity Zones for investors, fund managers and project developers

Opportunity Zones: What is All the Fuss About?

IRS to Release Long-Awaited Regulations for Opportunity Zone Program Today

Opportunity Zones—Curb Your Enthusiasm (Maybe…)

In the News> Opportunity Zones and Tax Credits: A Match Made In…?

In the News> (Big) Opportunity Knocks: Why Sills Cummis’ Attorneys Feel Opportunity Zones Could Bring ‘Greatest Wealth Transfer in History of Country’

In the News> When Opportunity Knocks: Cities Eager to Take Advantage of Opportunity Zones

In the News> Fixing America’s Forgotten Places

A New Opportunity for Deferring and Reducing Capital Gains While Making Attractive Investments in America’s Distressed Areas

New York and Pennsylvania Nominate Their Choices for Opportunity Zones

New Jersey “Opportunity Zones” Just Revealed

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