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Opportunity Zones as an opportunity for Tax Deferral

What is an Opportunity Zone? In the Tax Cuts and Jobs Act which was enacted in December of 2017, Congress enacted provisions designed to encourage investment and economic growth in low-income communities. Sec. 1400Z-1 allows for almost 9,000 low-income communities to be designated as "qualified opportunity zones" (QOZs). A Map of all QOZs can be found here (https://www.cims.cdfifund.gov/preparation/?config=config_nmtc.xml) Sec. 1400Z-2 offers three federal income tax incentives to a taxpayer who invests in a business located within one of these QOZs: (1) the temporary deferral of capital gains, to the extent the gains are reinvested into a "qualified opportunity fund" (QOF); (2) the partia

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