Tax,
Real Estate/Development
Mar. 12, 2020
Final opportunity zone regulations set to take effect this week
As opportunity zone investments become more commonplace, many opportunity zone sponsors and developers are interested in understanding the difference between “original property” and “substantial improvement” property. This is an important distinction which is outlined in the final opportunity zone regulations, which become effective Friday.
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.
Opportunity zone funds have raised billions of dollars since the Tax Cut and Jobs Act of 2017 created the opportunity zone program, which incentivizes investments in distressed communities.
As opportunity zone investments become more commonplace, many opportunity zone sponsors and developers are interested in understanding the difference between "original property" and "substantial improvement" property. This is an important distinc...
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