Qualified Opportunity Zones & Energy Projects: New Tax Incentives

Eligibility Requirements, Formation, Self-Certification, Favorable Treatment of Returns on Investment

Recording of a 90-minute CLE webinar with Q&A


Conducted on Thursday, October 18, 2018

Recorded event now available

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Program Materials

This CLE webinar will provide energy counsel with an understanding of Qualified Opportunity Zones and Qualified Opportunity Funds created under the new tax law. The panel will discuss eligibility requirements, formation and self-certification, as well as the tax benefits associated with investing in Qualified Opportunity Zones. The panel will also examine how Qualified Opportunity Funds can be used in energy projects and the interplay with other tax incentives.

Description

Tax reform created one of the country’s most significant economic development programs that encourages private investment in Qualified Opportunity Zones. Opportunity Zone Funds offer favorable treatment of returns on the investment, including deferral, reduction or possible elimination of gains tax on the appreciation of the fund interest.

Individual states designated communities as Qualified Opportunity Zones which have been approved by the Treasury Department and the Internal Revenue Service. Certain Energy projects, including renewables, mineral extraction, and oil and gas, are particularly well suited for Opportunity Zone Funds.

To take advantage of the tax benefits of the program, a taxpayer must reinvest gain proceeds in a Qualified Opportunity Fund within 180 days from the date of the sale or exchange of a capital asset. A Qualified Opportunity Fund must hold at least 90% of the fund’s holdings in Qualified Opportunity Zone property.

Counsel to companies and others in the energy industry must understand the structuring requirements to qualify for—and preserve—these tax benefits through the life of an investment and the interplay with other tax incentives available for energy projects.

Listen as our authoritative panel of energy and tax professionals examines Qualified Opportunity Zones and Qualified Opportunity Funds. The panel will discuss tax benefits associated with making energy and other business investments in Qualified Opportunity Zones, eligibility requirements, the process for getting fund approval, fund formation, and more.

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Outline

  1. Qualified Opportunity Zones—defined
  2. Qualified Opportunity Funds—eligibility requirements, formation, self-certification
  3. Tax incentives to invest in Qualified Opportunity Funds/Zones
  4. Interplay of Qualified Opportunity Zone investments with renewable energy tax incentive programs
  5. Structuring considerations

Benefits

The panel will review these and other critical issues:

  • What are Qualified Opportunity Zones, and how are they determined?
  • How are Qualified Opportunity Funds approved, and what is the preferred entity structure?
  • When must the reinvestment of gains be made, and how long must it be held, to qualify for the tax benefits?
  • How might Qualified Opportunity Funds be used in energy projects, and can they be used with other tax incentives?
  • What is the status of Treasury regulations interpreting and clarifying important aspects of the Qualified Opportunity Zone program?

Faculty

Haun, Michael
Michael D. Haun

Partner
Paul Hastings

Mr. Haun is a partner in the Tax practice of Paul Hastings and is based in the firm’s Los Angeles...  |  Read More

Lang, James
James O. Lang

Shareholder
Greenberg Traurig

Mr. Lang focuses his practice on tax credit incentive programs and related state and federal incentive programs. He...  |  Read More

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