Overview
Bloomberg Tax quoted Lisa Zarlenga in a December 20 article titled "Real Estate, Startup Investors Win in Opportunity Zone Rules." The article explains why a massive package of final rules for the 2017 tax law's opportunity zone incentives is sure to please real estate and startup investors, banks, and conglomerates, among others. The final rules made some exceptions, which is not only a boon for large companies generally but also for banks, which tend to form community development arms for the sort of investments made in opportunity zones.
Zarlenga says, "I think the consolidated groups were surprised by the proposed regulations and had already formed [qualified opportunity funds] QOFs and thought, 'What do we do?'" Referring to Treasury, she adds, "I would be surprised if they didn't permit the ones that have already formed to go forward."
The full article can be read at Bloomberg Tax.
