Opportunity Zone Businesses

Every US State, as well as District of Columbia and Puerto Rico, has multiple Qualified Opportunity Zones.

They are not all the same in opportunity just the same in type.

What do we mean by that? Every physical location can either be an Opportunity Zone Property or Business, and sometimes both!

An Opportunity Zone Business is one that meets the requirements and can be established within the time limits and budget of the investor. The Business can be located in an existing building and can be rented or purchased. If the latter, the Business and Property may be combined or kept separate, with resulting tax implications either way. Having an experienced advisory company is critical when considering these options.

The Opportunity Zone Business requires many more factors to be considered than a property:

  • Can it grow from the selected location?
  • What happens to the Tax Exempt status if outside workers are used?
  • How do you qualify the Business?
  • Where and how are the Tax Returns processed?
  • What happens to the Tax Deferral if the Business is sold or fails?

These are some of the questions we are asked by clients, as well as some very obscure ones, on a continuing basis. 

Our consultants work with you on establishing a strategic plan that answers these important questions and meets your needs.

Opportunity Zone Property

Every US State, as well as District of Columbia and Puerto Rico, has multiple Qualified Opportunity Zones.

They are not all the same in opportunity just the same in type.

What do we mean by that? Every physical location can either be an Opportunity Zone Property or Business. 

An Opportunity Zone Property, is one that meets the requirements and can be repurposed within the time limits and budget of the purchaser. The rules for meeting these requirements are complex. For example some renovations will and some won’t meet the IRS rules. Asking an experienced QOZ professional before making an offer, is a wise and necessary step.

Not all zones have the same types of property; raw land, industrial, apartment building etc. Some zones are very narrow in scope when it comes to property types and thus suitability for the investor. A Property Search using the QOZ tools can be very frustrating and time consuming. That is where hiring a specialized firm makes sense, both in time saved and finding suitable properties for the intended use.

These are some of the questions we are asked by clients, as well as some very obscure ones, on a continuing basis. 

Our consultants work with you on establishing a strategic plan that answers these important questions and meets your needs.