An Opportunity Zone is an economically-distressed community where new investments, under certain conditions, may be eligible for preferential tax treatment. Localities qualify as Opportunity Zones if they have been nominated for that designation by the state and that nomination has been certified by the Secretary of the U.S. Treasury via his delegation authority to the Internal Revenue Service.
Go here to access the IRS's list of Opportunity Zone Frequently Asked Questions.
This article was submitted by Chad Halstead, Katz Sapper & Miller. If you would like to submit content or write an article for the Tax Section, please email Kara Sikorski at ksikorski@indybar.org.