June 18, 2020
“The landmark opportunity zone incentive marries tremendous tax benefits with economic development. Experienced and first time fund ‘sponsors’ alike are learning the intricacies of organizing a qualified opportunity fund (QOF) to gather investments, improve communities, and hopefully reap the rewards of investing in startups, growing and established businesses, and real estate-centric projects. Many have raised capital for other initiatives and know the definition of ‘accredited investor’ by heart. But with all of the attention to the Section 1400Z-1 and -2 of the Internal Revenue Code (OZ Incentive) and several rounds of Department of Treasury guidance, all QOF sponsors and managers should reacquaint themselves with the securities laws. [1]”
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