INDUSTRY NEWSWritten by Forrest Milder of Nixon Peabody, Glenn Graff of Applegate & Thorne-Thomsen, and Sue Wilson of Enterprise Community Partners
After meeting with Michael Novey of the United States Department of the Treasury, Milder, Graff, and Wilson put together a list of Qualified Opportunity Zone issues that were preventing investments from closing, and would be the highest priority for government guidance:
- What Taxpayer must do the investing, and when?
- What kinds of entities can a Qualified Opportunity Fund be?
- What gains are eligible for Opportunity Fund tax deferral?
- Eligibility of property which is being newly constructed, rehabilitated or augmented
- Pre-Investment Financing
- Grace Periods for Investing and the Measurement Dates
- Other technical Issues
Click HERE to view the entire letter of QOZ observations to Michael Novey. For more information, please contact Glenn Graff or any of your contacts at Applegate & Thorne-Thomsen.
