top of page
  • By Leonard C. Green, CPA, MBA, John B. Wollenberg

Newly Enacted Opportunity Zones Offer Unique Opportunity for Tax Savings


The recently enacted Tax Cut and Jobs Act introduced two tax election benefits for investments in qualified “Opportunity Zones.” Opportunity Zone (OZ) Description An OZ is a government designated community created to spur economic development and job creation in distressed communities by providing tax benefits to investors. These benefits are available even if the investor does not live, work or have a business in an OZ as long as they invest in the Zone. What is a Qualified Opportunity Fund (QOF) It is a vehicle, either a partnership (including a limited liability company) or corporation for investing in eligible property that is in an OZ and that utilizes the investor’s gains from a prior investment for funding the QOF. The Fund cannot invest in another QOF and must hold at least 90% of its assets in OZ property, i.e. (1) OZ Stock, (2) OZ Partnership Interests or (3) OZ Business Property.

bottom of page