Qualified Opportunity Zones

Designed to incentivize long-term investment in low-income and economically distressed communities, Qualified Opportunity Zones offer taxpayers the ability to defer paying tax on capital gains by investing in qualified opportunity funds.

Below are some key resources to better understand the benefits available:

• Read How to Claim Ohio Opportunity Zone Tax Credits in 2022 to learn about the eligibility, benefits and application process of the Opportunity Zone tax credit.
• Read Amendments to Qualified Opportunity Zones Clarify 2 Key Areas to learn about corrective amendments to the final Qualified Opportunity Zone (QOZ) regulations issued by the IRS.
• Read How Investing in Opportunity Zones Could Minimize the Impact of Gift Tax Exemption Changes for information about how incorporating Qualified Opportunity Zone (QOZ) investments into your estate plan could help mitigate the consequences of lower gifting exemptions.
• Read IRS Notice 2021-10 Extends 5 Key Deadlines for Qualified Opportunity Zone Participants to learn about the deadlines extended under the QOZ program.
• Read Second Round of Ohio Opportunity Zone Tax Credits Will Soon Offer $23 Million in Credits for details about round two of the Ohio Opportunity Zone Tax Credits.
• Read Treasury Offers Opportunity Zone Participants Pandemic Relief in Notice 2020-39 for information about pandemic relief available for Opportunity Zone participants.
• Read Application Process Open for New Ohio Opportunity Zone Tax Credit Program to learn about the details and benefits of the Ohio Opportunity Zone Tax Credit.
• Read Final Qualified Opportunity Zone Regulations Released for some initial key takeaways from the final regulations on investing in Qualified Opportunity Funds.
• Read 7 FAQs from Round 2 of Qualified Opportunity Zone Guidance following the release of additional proposed regulations on the program
• Read 10 Key Questions — Answered — About Qualified Opportunity Zones following the release of the first round of proposed regulations
• Read our blog on the introduction of Qualified Opportunity Zones
• Learn about a second round of proposed regulations and a potential Ohio tax credit
• Watch our hour-long Taking Advantage of QO Zones webinar which covers program structure and planning considerations (recorded in July prior to the release of the proposed regulations).

To view an interactive map of QO Zone tracts, visit CDFI's website.

If you'd like to discuss Opportunity Zones in more detail in regards to your specific situation, contact Adam Hill or Angel Rice today.