As part of 2017 federal tax reform, Congress created new tax benefits for certain investments in low-income communities designated as Qualified Opportunity Zones. This webinar provides listeners with an overview of these benefits and the requirements applicable to investments in Qualified Opportunity Zone projects, including recent Treasury guidance on a number of key questions.
The topics addressed include:
- Who is entitled to receive Qualified Opportunity Zone tax benefits
- What is a Qualified Opportunity Fund, and how is it formed
- How can Qualified Opportunity Funds use investment proceeds
- Requirements and limitations applicable to Qualified Opportunity Funds
- Requirements and limitations applicable to Qualified Opportunity Fund subsidiaries
- Structuring for cash to be held over an extended development period
- Penalties for failure to satisfy Qualified Opportunity Zone requirements
Webinar Presenters:
Joseph Mann is a partner in the Vorys Columbus office, a member of the tax group and the head of the federal tax subgroup. He practices generally in the area of federal taxation, including public and private mergers, tax-free and taxable acquisitions and divestitures, partnerships, limited liability companies, S corporations, joint ventures, venture capital, real estate, restructurings, financing and equity transactions. Joseph advises in transactions involving federal New Markets Tax Credits and Historic Tax Credits. He can be reached at jbmann@vorys.com.
Kelly Bissinger is a partner in the Vorys Washington, D.C. office and a member of the finance, energy and real estate group. Kelly has experience representing both institutional and developer clients in connection with structuring and negotiating real estate joint ventures with an emphasis on the tax planning aspects of such transactions. In addition, Kelly has extensive experience advising developers, syndicators and investors on low-income housing, historic, new market and energy tax credits matters, including legislative and regulatory developments, originations, secondary market acquisitions and dispositions, end of compliance period planning and workouts. She can be reached at kbbissinger@vorys.com.
