The 2017 Tax Cuts and Jobs Act created the Qualified Opportunity Zone (QOZ) Program to encourage investment in businesses located in low-income communities designated as Opportunity Zones. The QOZ program provides taxpayers who recognize capital gains on the sale of property with the opportunity to defer and partially eliminate such gain, as well as additional future gain, by investing such capital gains in a Qualified Opportunity Fund. This presentation discusses how the QOZ incentive works, how taxpayers may participate in the QOZ program, the benefits and risks associated with the QOZ program, the rules for qualified OZ property (eligible investments for QOFs), and a comparison of the QOZ incentive to 1031 like-kind exchanges.
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|Qualified Opportunity Zone Program_Handout_Craig Hammond_September 23, 2019 (960.1 KB)||Available after Purchase|
Craig Hammond focuses his practice in the areas of public finance, banking and economic development law, with more than 30 years of experience working on economic development projects and tax advantaged financings. Craig is recognized as one of the leading public finance attorneys in the State of Michigan in financings for senior housing, health care, higher education, charter schools, economic development projects and public-private partnership transactions.
Craig has been listed in Best Lawyers in America, 2006-present for Banking and Finance Law and Public Finance Law; Best Lawyers in America "2015-2018 Lawyer of the Year- Public Finance Law”; Michigan Super Lawyers, Bonds/Government Finance, Banking, 2006-present; and DBusiness Top Lawyers, Public Finance Law.
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