Tax,
Real Estate/Development
May 13, 2019
Latest opportunity zone treasury regulations offer more clarity to investors
On April 17, the Internal Revenue Service issued its second tranche of proposed regulations to address many questions left unanswered by the first tranche issued last October, providing additional clarity necessary to spur increased activity in QOZ investments.
Michael D. Haun
Partner
Paul Hastings LLP
Email: michaelhaun@paulhastings.com
Michael is a partner in the firm's Tax practice and is based in the firm's Los Angeles office. He provides tax and business advice to a broad range of domestic and international clients in a wide variety of partnership and limited liability company transactions. He specializes in tax-subsidized transactions and represents developers, syndicators, investors, and lenders with respect to investments that involve low-income housing tax credits, renewable energy tax credits, historic tax credits, new markets tax credits, and investments in opportunity zones.
Kami L. LaBerge
Associate
Paul Hastings LLP
Email: kamilaberge@paulhastings.com
Kami is an associate in the firm's Tax practice and is based in the firm's Los Angeles office. She provides advice on a wide range of domestic and international transactional tax matters. She has experience representing corporations, private equity funds, and financial institutions in the federal, state, and local tax arenas.
The Tax Cuts and Jobs Act of 2017 added new tax incentives for investing in designated economically distressed "qualified opportunity zones," or "QOZs," under Section 1400Z-2 of the Internal Revenue Code. By timely investing eligible capital gains in QOZs, a taxpayer can reduce (by up to 15 percent) and defer (until Dec. 31, 2026) federal taxes on those capital gains realized and eliminate federal capital gains taxes on the appreciated value of investments in qualifie...
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