Qualified Opportunity Zones and Tax Credits: Capital Gain Deferral Mechanisms Under New Section 1400Z

IRC 45D(e) Requirements, Step-Up in Basis, Appreciation Exclusion, Tax Planning Strategies for Investors and More

A live 90-minute CLE/CPE webinar with interactive Q&A


Thursday, May 17, 2018

1:00pm-2:30pm EDT, 10:00am-11:30am PDT

or call 1-800-926-7926

This CLE webinar will provide tax counsel and advisers with a detailed analysis of the qualified opportunity zones tax-incentive mechanism provided under the tax reform law. The panel will discuss the necessary legal requirements and processes to obtain the tax credit, describe methods to ensure deferral or reduction of capital gains, and outline additional tax planning strategies associated with opportunity zone funds and businesses.

Description

Tax reform created one of the country’s most significant economic development programs that encourages private investment in qualified opportunity zones. The program allows taxpayers to defer and reduce capital gain by allowing the taxpayer to reinvest capital gain proceeds in a qualified opportunity fund.

This new incentive investment program subsidizes growing businesses in low-income communities through short- and long-term capital gains deferral, providing a substantial step up in tax basis and tax abatement on post-investment appreciation. The program required states to nominate a limited number of census tracts to be designated as qualified opportunity zones no later than Mar. 21, 2018 with such designation to remain in place for 10 years.

In order to take advantage of the tax benefits of the program, a taxpayer must reinvest capital 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 assets in qualified opportunity zone property. Tax counsel and advisers must understand and develop planning techniques to assist individuals or businesses seeking to invest capital, raise funds or that will recognize significant capital gains in the next few years.

Listen as our panel discusses the benefits of the new qualified opportunity zone tax-incentive program as an investment tool for taxpayers, the necessary legal requirements and processes to obtain tax credits, and techniques to ensure deferral or reduction of capital gains.

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Outline

  1. Opportunity zone provisions under the new tax bill
  2. Processes and criteria designating qualified opportunity zones
  3. Opportunity zone funds as the new class of investment vehicles and interests they can hold
  4. Securing the tax benefits of opportunity zone investments
  5. Best practices and tax planning techniques for counsel

Benefits

The panel will review these and other key issues:

  • What are opportunity zones and eligibility requirements under IRC 45D(e)?
  • What tax benefits do opportunity zones provide?
  • What are opportunity zone funds and qualified opportunity zone businesses?
  • How can taxpayers ensure the deferral or reduction of capital gains and the appreciation exclusion?

Faculty

Sanders, Michael
Michael I. Sanders

Partner
Blank Rome

Mr. Sanders focuses his practice in the area of taxation, particularly in matters affecting partnerships, limited...  |  Read More

Sciarretti, John
John Sciarretti, CPA

Partner
Novogradac & Company

Mr. Sciarretti specializes in the real estate finance, community development and renewable energy industries. He has...  |  Read More

Lettieri, John
John W. Lettieri

Co-Founder and President
Economic Innovation Group

Mr. Lettieri is co-founder and President of the Economic Innovation Group (EIG). He leads EIG’s policy...  |  Read More

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