These “O-Zones” are an economic development tool as well as a tax deferral opportunity on capital gains. It was established by Congress in the Tax Cut and Jobs Act of 2017 to encourage long-term investments in low-income sections of our communities.
Meeker Co. Opportunity Zones
https://mn.gov/deed/business/financing-business/tax-credits/opp-zones/
https://mn.gov/deed/business/financing-business/tax-credits/opp-zones/census-opp-zone-tracts.jsp
OPPORTUNITY ZONE RESOURCES
- Implementation of Opportunity Zones has been delegated to the IRS by the US Department of the Treasury’s Community Development Financial Institutions Fund (CDFI) https://www.cdfifund.gov/
- IRS has released Opportunity Zones FAQ
- Latest U.S. Treasury guidance on opportunity zones
Talk with your financial advisor to see if this opportunity fits with your goals.
