Tax,
Real Estate/Development,
Government
Jun. 3, 2019
Governor Newsom unveils opportunity zone conformity bill
California Gov. Gavin Newsom has proposed some tweaks to the federal government’s opportunity zone regulations which could limit the scope of state tax breaks.
Phil Jelsma
Partner and Chair of the Tax Practice Team
Crosbie Gliner Schiffman Southard & Swanson LLC (CGS3)
Email: pjelsma@cgs3.com
Phil is chair of the tax practice team at CGS3. He is recognized as a leading joint venture and tax attorney, with a 30-year background in real estate exchange transactions, syndications, nonprofit corporations and international tax planning.
California Gov. Gavin Newsom has proposed some tweaks to the federal government's opportunity zone regulations which could limit the scope of state tax breaks.
On May 20, Newsom introduced his proposed conformity bill for opportunity zones, which were introduced by the federal government in 2017 to uplift certain economically distressed areas. California currently houses 879 opportunity zones -- approximately 10 percent of those in ...
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