Understand various components of opportunity zone transactions and how such transactions are structured.
Enacted in 2017 by Congress's Tax Cuts and Jobs Act, the opportunity zone program is designed to create jobs and drive investment into certain low-income communities located in economically distressed census tracts designated by the state. The program allows investors the opportunity to invest eligible gains into Qualified Opportunity Zone Funds, which will then make investments into low-income communities and allow investors to defer gains. This presentation will discuss the various components of an opportunity zone transaction, including what qualifies as a Qualified Opportunity Zone Fund, a Qualified Opportunity Zone Business Property, and a Qualified Opportunity Zone Business. The topic will also cover types of eligible gains and how such transactions are structured.
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Agenda
Purpose of the Opportunity Zone Provisions as Noted in the Anti-Abuse Provisions
Benefits of Investing in an Opportunity Zone
- For the Investor
- For the Business
Eligible Gain
- Gain From Sales of Capital Assets (1221(a))
- Gross Section 1231 Gains
- Other Types of Capital Gain
- Installment Sales
- Application of Related Party Rules and Step Transaction
- Rollover Gains
Qualified Opportunity Fund (QOF)
- Partnership or Corporation: Advantages and Disadvantages
- Carried Interests
- Partnerships Among Related Persons
- Compliance Testing; Measuring the Value of Assets
Qualified Opportunity Zone Business Property (QOZBP)
- Basic Definition
- Original Use
- Vacant Property
- Leased Property
- Substantial Improvement
- Aggregation
Qualified Opportunity Zone Business (QOZB)
- Basic Definition
- Active Business
- Source of Income: Employee Services, Income Generated, Management Functions
- Advantages of Invest in a QOZB Over Assets
- Net-Leasing
- Working Capital Plans
- Intangible Property
- Subsidiaries
Anti-Abuse Rules
Interaction With Other Tax Subsidies
- HTC
- Energy Property
Sales of an Interest in a QOZB or of Assets by QOZB
- After 10 Years
- Before 10 Years
- Exit of a Non-QOF Partner
- Recapitalization
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Credits
OnDemand Course
This course was last revised on March 29, 2023.
Call 1-866-352-9540 for further credit information.
- AIPB 1.5
- This program is acceptable for 1.5 CPEC(s) towards the CB designation through the American Institute of Professional Bookkeepers (AIPB).
- AK CLE 1.5
- Alaska attorneys may receive 1.5 hours of continuing legal education for completing this program. Please contact the Alaska Bar Association or go to www.alaskabar.org for details regarding reciprocity with other states.
- AL CLE 1.6
- This course or a portion thereof has been approved by the Alabama State Mandatory Continuing Legal Education Commission for a maximum of 1.6 hours credit.
- AR CLE 1.5
- This course has been approved for 1.5 hours of CLE by the Arkansas CLE Board.
- Arizona CLE 1.5
- The Arizona State Bar does not pre-approve or pre-certify MCLE programs. However, records of this program and attendance will be maintained by Lorman Education Services for auditing purposes. This activity may qualify for up to 1.5 hours toward your annual CLE requirement for the State Bar of Arizona.
- CA MCLE 1.5
- Lorman Education Services is a State Bar of California approved MCLE sponsor and this course qualifies for 1.5 CLE hours of participatory credit.
- CT CLE 1.5
- Neither the Connecticut Judicial Branch nor the Commission on Minimum Continuing Legal Education approve or accredit CLE providers or activities. This course has been approved for CLE credit in jurisdictions aside from CT and therefore it automatically meets the content and delivery requirements in Connecticut. Credit is based on a 60 minute credit hour and shall be awarded as follows: 1.5 CLE credit(s).
- GA CLE 1.5
- This program has been approved by the Georgia Commission on Continuing Lawyer Competency for 1.5 CLE hours.
- HI CLE 1.5
- This program was approved by the Hawaii State Board of Continuing Legal Education for 1.5 CLE credit hours.
- MO CLE 2.0
- This course qualifies for self-study CLE credit in Missouri.
- ND CLE 1.5
- North Dakota CLE policy does not allow for pre-approval of any self-study courses. This course may qualify for up to 1.5 hours of CLE credit.
- NH MCLE 1.6
- NH MCLE does not approve or accredit CLE activities for the NH Minimum CLE requirement. Lorman Education Services believes this Ondemand course meets the requirement of NH Supreme Court Rule 53 and may qualify for CLE credit(s). Program Length: 93 Minutes.
- NV CLE 1.5
- This program has been approved by the Nevada Board of Continuing Legal Education for 1.5 CLE hours.
- PA CLE 1.5
- This Distance Learning program has been approved by the Pennsylvania Continuing Legal Education Board for 1.5 hours of substantive law, practice and procedure CLE credit.
- RI CLE 1.5
- This program has been approved by the Rhode Island Mandatory Continuing Legal Education Commission for 1.5 hours of CLE credit.
- VT CLE 1.5
- This self-study program has been approved by the Mandatory Continuing Legal Education Board of Vermont for 1.5 hour(s) of CLE credit. Please note: Attorneys may only claim 12 credits per compliance period in this format. This course is considered "Non-Moderated Programming without Interactivity".
To earn each credit Lorman offers through the OnDemand learning platform, you need to watch 100% of the program. Also, for certain credits you will need to fulfill additional requirements which will be displayed on the "credits" tab when viewing the course.
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
A. Ann Hered
Butler Snow LLP
- Experienced public finance attorney with a focus in New Markets Tax Credits and bonds
- Practice areas and industry teams include government finance, public finance, tax credits, and taxation of businesses
- Bar admissions include Colorado, New York, and California
- Member of the American Bar Association
- J.D. degree, cum laude, Cornell University; LL.M in taxation, University of Denver; LL.M. in trade regulation, New York University; B.A. in economics and policy studies, Rice University
- Can be contacted at [email protected] or 720-330-2351
Thane R. Hodson
Butler Snow LLP
- Assists clients with structuring new markets tax credits financings, including upper-tier lending arrangements, direct and indirect credit enhancement of lower-tier borrowing arrangements, and lower-tier equity financing
- Practice areas and industry teams include governmental finance, hospital and healthcare finance, public finance, tax credits, and taxation of businesses
- Bar admissions include Colorado, Kansas, and U.S. Tax Court
- Member of the American Bar Association, Colorado Bar Association, and Kansas Bar Association
- J.D. degree, Washburn University; LL.M. degree in taxation, Georgetown University; B.A. in political science, cum laude, University of Kansas
- Can be contacted at [email protected] or 720-330-2350
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Why Lorman?
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