Opportunity Zones are quickly becoming the hot topic in rural and metropolitan economic development. However, uncertainty around how to leverage zones for investment is all too commonplace. As an industry expert in all things OZ, Thomas P. Miller & Associates can help you assess and plan for the transformative, resilient development of your Opportunity Zones.
What is an
An Opportunity Zone is an economic development tool promoting investment in distressed communities. Created through through legislation enacted by the Federal Tax Cuts and Jobs Act of 2017, more than 8,000 Census tracts across the United States have been designated as Opportunity Zones by the U.S. Department of Treasury, incentivizing investments in these distressed communities to better address local needs in the area.
What is an
Opportunity Funds are vehicles formed for investing in qualified Opportunity Zone property. Investments made through Qualified Opportunity Funds can realize deferral and reduction of capital gains taxes in investments held for at least five years with additional incentives available for investments maintained in Opportunity Zones for 7 and 10 years.