An Opportunity Zone is a designated economically-distressed area in the U.S. where new investments may be eligible for preferential tax treatment. Opportunity Zones were created to encourage investors to support development and job creation in underperforming parts of the community. In return, investors receive capital-gains tax incentives.
Opportunity Zones are a new community development program established by in the Tax Cuts and Jobs Act of 2017 to encourage long-term investments in lower income urban and rural communities. The Opportunity Zone program provides a tax incentive for investors to re-invest their realized capital gains in Opportunity Funds that are dedicated to investing in Opportunity Zones designated by the chief executives of every U.S. state and territory.
The U.S. Treasury, in collaboration with State and Local governments, has certified 8764 sites in the 50 states and territories as Opportunity Zones.
See the attached link for a list of designated Opportunity Zones (https://opportunitydb.com/location/)
See the attached link for a list of frequently asked Opportunity Zone questions (http://www.irs.gov/newsroom/opportunity-zones-frequently-asked-questions)
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