The Tax Cuts and Jobs Act: A New Opportunity to Use Tax Incentives to Fund Low-Income Projects
Real Estate Partner Stuart Saft wrote an article for the New York Law Journal about opportunity zone tax incentives provided by the Tax Cuts and Jobs Act of 2017. Opportunity zones are intended to encourage investments used to start businesses, develop abandoned properties or provide low-income housing solutions in economically distressed communities. The new tax act allows investors to acquire temporary deferral of capital gains income from prior investments if all or part of the capital gain is reinvested in a "Qualified Opportunity Fund."
READ: The Tax Cuts and Jobs Act: A New Opportunity to Use Tax Incentives to Fund Low-Income Projects (Subscription required)