Opportunity Zones: What Does Tax-free Investing Mean in The 2017 Tax Cut and Jobs Act?
The 2017 Tax Cut and Jobs Act added new sections to the Internal Revenue Code that provide for a tax benefit for investments made in a Qualified Opportunity Zone. Under the law, the governors of each state designated certain low income census tracts as Qualified Opportunity Zones. The new provision allows for taxes on the gain from the sale of assets to be deferred when proceeds are rolled into a Qualified Opportunity Fund. Learn about the background and goals of the program as well as how Opportunity Fund investments can benefit clients with substantial unrealized capital gains.