OMA Connections Partner Calfee this week provided an update on the federal Opportunity Zone Program, created as part of the 2017 Tax Cuts and Jobs Act. The program is back in the headlines because the long-awaited second round of proposed regulations was recently published by the Treasury Department, Calfee reports. This guidance helps clarify how investments in these zones would work.
The goal of Opportunity Zones is to provide tax incentives for investors who make long term capital investment in designated low-income areas. Investors must invest through a qualified Opportunity Fund. Ohio has opportunity zones in 73 of Ohio’s 88 counties. 5/23/2019