The IRS posted the much anticipated second (of likely three) tranches of regulations for the Opportunity Zone Program on April 17, 2019.
My initial assessment is that this second set of regulations favorably answers many of the questions that have been holding back investment and that we will begin to see more and more deals come together through the remainder of the year.
“...this second set of regulations favorably answers many of the questions that have been holding back investment and that we will begin to see more and more deals come together through the remainder of the year.”
The guidance is particularly helpful to operate businesses, leased property, and vacant land that can be utilized in a trade or business.
Joey Strength is a partner at HunterMaclean, practicing primarily in real estate and development law, estates and trusts, and business transactions. He is a trusted advisor to his clients, ranging from individuals to publicly traded companies, and provides them with quality legal representation and advice across various areas. Joey strives to understand his clients’ personal and business needs to find creative solutions to their legal problems.
Joey is a proponent of the Opportunity Zone legislation that was included in the 2017 Tax Cut and Jobs Act and has represented HunterMaclean in a national working group of attorneys, accountants, developers, and others who have collaborated to provide input in the regulatory process. He is currently working with a number of clients who are considering how they might benefit from the program and enjoys sharing about the program with others.
RETURN TO BLOG