The U.S. Department of Transportation has released an interactive map that provides details about significant transportation-related facilities, such as highway exits, train stations, and bus stops, that are located in or near Opportunity Zones. Click here to read more.
Federal Opportunity Zones
The source on federal Opportunity Zones for investors, fund managers and project developers
Latest from Federal Opportunity Zones
Much-Needed Clarity Finally Arrives for Reaching the Land of OZ
On April 17, the Internal Revenue Service (“IRS”) issued new proposed regulations to address a number of the outstanding questions and ambiguities pertaining to the Opportunity Zone program. The hope is that the new IRS guidance will spur significant Opportunity Zone investments that have been on the sidelines waiting for additional clarity. The proposed regulations…
New Jersey Division of Taxation Announces Conformity with Opportunity Zone Tax Benefits
This week, the New Jersey Division of Taxation issued key guidance on the Opportunity Zone program. The guidance provides that New Jersey will conform to federal tax rules when it comes to the Opportunity Zone tax benefits for gross income and corporation business tax purposes. Accordingly, New Jersey taxpayers will have the opportunity to take…
Additional Opportunity Zone Guidance Could be Delayed…Again
In light of the federal government shutdown, the hearing scheduled for January 10 to hear comments on proposed regulations pertaining to the Opportunity Zone program has been cancelled. Click here to read more.
We will keep you apprised of future updates.
In the News> National Study Ranked Nearly 8,000 Opportunity Zone Tracts in 2 categories: Newark had one in Top 10 of both
By Ted Zangari
As seen on: ROI-NJ.com
By Tom Bergeron
The city of Newark has one of the top locations in the country for investors looking to take advantage of the new Opportunity Zone Program, according to a national study released Thursday morning.
The LOCUS National Opportunity Zone Ranking Report ranked a census tract in downtown Newark in…
In the News> Executive Order on Establishing the White House Opportunity and Revitalization Council
On December 12, 2018, President Donald J. Trump issued an Executive Order establishing the White House Opportunity and Revitalization Council.
Opportunity Zones: What is All the Fuss About?
When the Tax Cuts and Jobs Act was being negotiated and considered by Congress at the end of 2017, most practitioners, developers, and business owners were trying to assess its impacts on the mortgage interest limitation, the cap on the state and local tax deduction, 1031 exchanges, immediate expensing of business assets, and other key…
IRS to Release Long-Awaited Regulations for Opportunity Zone Program Today
Sills Cummis has learned that later today the Internal Revenue Service will be releasing the long-awaited regulations for the new federal Opportunity Zone program together with a revenue ruling and a key document, the Form 8996 for self-certification by OZ funds. Please return to this site over the weekend and beyond for a continually-updated summary…
Opportunity Zones—Curb Your Enthusiasm (Maybe…)
The federal opportunity zone program offers the potential for directing new and significant capital investment to some of the country’s areas in need of development. When describing the program, we have referred to it as the next big thing in economic development that could usher in the greatest transfer of wealth this country has seen…
In the News> Fixing America’s Forgotten Places
By Ted Zangari
Opportunity Zones, created by Trump’s tax law, are meant to help the heartland thrive and make the country more equal—but can they pull it off?
As seen on: TheAtlantic.com
By: Annie Lowrey
FRESNO, Calif.—Census tract 06019000100 has a lot going for it. Locals cheer the melting-pot atmosphere, the arts scene, the nearby nature, and the…