Tax
Sep. 18, 2025
Joint ventures in opportunity zones: What the new rules mean for investors and developers
Opportunity Zones are now permanent but with sharper rules and penalties. Joint ventures that don't rewrite their playbooks risk turning tax breaks into tax traps.
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.
First introduced in 2017, the Opportunity Zone program -- which offers tax incentives to investors who reinvest capital gains into designated low-income communities -- was already a complicated maze of rules and requirements. Now, with the passage of the One Big Beautiful Bill Act (OBBBA), the landscape has shifted once again. The Op...
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