Invest Local is hosting this Meetup on Opportunity Zones to facilitate investments into Opportunity Zone Funds for the benefit of Opportunity Zone Businesses and Properties.
The Tax Cuts and Jobs Act passed in December of 2017 authorized tax incentives for investments into businesses and properties located within designated geographic areas – Opportunity Zones. The incentives are intended to influence investors to provide capital to distressed economic areas to generate jobs and aid the local economies. An investor who holds stocks with an appreciated value over the original purchase price may sell their stocks and roll over their gains within 180 days into one or more Opportunity Zone Funds that re-invest the money into Opportunity Zone Businesses and Properties. The payment of taxes on the capital gains is deferred until earlier of 2026 or the date when an investor sells their investment in the Fund. The greatest benefit is that if the investor leaves their investment in the fund for 5, 7 or 10 years, a portion or all of any gain on the Opportunity Zone Fund investment is tax free.
We will share information, present educational programs, identify people and projects and support Opportunity Zone candidates.