The QOZ program was an element of the Tax Reform and Jobs Act of 2017. It is designed to provide Americans who have capital gains built into assets they own some incentive to sell those assets and put their gains to work on economic development projects in the QOZs — low-income areas designated as in need of new development. There are presently more than $6 trillion in capital gains sitting on the sidelines in America. These gains are essentially trapped in the assets: The owners will not sell the assets because they do not want to pay tax on the gains.
Final Regulations for Qualified Opportunity Zones: What You Need to Know
Posted by
Coni Rathbone and Jonathan McGuire on Feb 10, 2020 12:05:00 PM
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