Tennessee Opportunity Zones
The Tax Cuts and Jobs Act of 2017 created a new investment vehicle to incentivize investments in targeted communities called Opportunity Zones through what are being called Opportunity Funds.
The Opportunity Zones that have been created are based on the census tracts designated by state and federal governments which are then being recognized as areas that need investment and economic development.
The Opportunity Fund is set up so that investors can defer their federal taxes on any of the recent capital gains until December 31, 2026. They can actually reduce that tax payment by up to 15%, and pay as little as zero taxes on potential profits from an Opportunity Fund, as long as the investment is held for a minimum of 10 years.
If, as an investor, you have created a situation whereby selling an asset has now created a capital gains tax liability, you can now benefit from the new tax strategy by essentially using the tax gain to roll into an Opportunity Fund within 180 days. In addition, you have another 180 days to have the fund actually then purchase an investment within an Opportunity Zone
If you would like more information about this opportunity please use the form below: