Opportunity Zones: Enterprise Community Partners

  • 8th Jan'21
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Opportunity Zones is not so common topic that is being talked about. Opportunity zone program to encourage investment in economically distressed parts of the US. It mainly focuses on providing tax breaks for investors. It helps emerging companies to capitalize on the program.

 

What is Opportunity Zones?

Opportunity Zone is an unemployed distressed community with private investment under certain conditions. It may be eligible for capital gain tax incentives. More than 8,760 designated qualified opportunity Zones are located in all 50 states, the District of Columbia, and five United States territories.

Based on the nomination of eligible census tracts by the chief executive officer of each state, treasury designation of qualified opportunity zones. Which state nominated the maximum number of eligible, per statute, and these designations are final.

Read the links below to understand more about opportunity zones:

Know About Opportunity Zone one

Discover more about the program. Read here.

Facts about Opportunity Zones

With opportunity zones, and any other place-based incentive program, it’s important to consider what we know, as well as what we don’t. Read more.

Opportunity zone program - City of Columbus

If you are a business owner currently in an Opportunity Zone or thinking about relocating to one. Read more.

 

Opportunity Zones Enterprise Community Partners

 

Opportunity Zones: Pros and Cons

Ideally, opportunity zone designation brings economic development for the low-income census tract as a whole. The program not only boosts the rate of return on investments receiving a tax break, but it also results in the development of properties which is not receiving the tax breaks directly.

Read the links below to understand some pros and cons of Opportunity Zones:

Opportunity Zone Funds: Pros And Cons

There are some pros and cons when investing in these funds. Read more.

Pros and cons of opportunity zones

Opportunity Zones have the potential to uplift the economically distressed. Here are some pros and cons of OZ. Read more.

 

Qualified Opportunity Zone Business

The primary hurdle to becoming a professional business requires at their east 50% of a company's gross income derived from the business's active conduct in an Opportunity Zone. 

It wasn’t clear how companies could demonstrate this when the opportunity zone program was established. However, the IRS has now established “safe harbors” that provide that this requirement in the business industry.

Get the complete insights about qualified opportunity zone business. Read more.

How to form your own opportunity zone business

Forming a Qualified Opportunity Zone Business within a Qualified Opportunity Fund. Read more.

Tips to start an opportunity zone Business

What is required to be a qualified opportunity zone business? Read more.

 

Future of Opportunity Zone

The build a better future, the Opportunity Zones are taking a step forward to help businesses and entrepreneurs. 

To understand more about the future of opportunity zones, read the links below:

Opportunity Zones Is In-Reach

Opportunity zones have rapidly gathered column inches based on the assertion that they primarily benefit the wealthy, read more.

 

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About the author: Sareen Yasmin

Her passion includes creative writing, reading and playing around words. She is looking forward to bringing some change with the power of pen and thoughts. Mic and pen are her best friends.

Sources/References:

*Note: The content published above was made in collaboration with our members.

About the author:

Kumar Amritanshu (Editor), OpenGrowth Content Team

Amritanshu, a geek, an explorer, traveler and innovative creator by heart. Experimenting with new ideas and exploring innovative technologies are his break-through talent. Endless craze for technology and creativity. Associated with editorial team at OpenGrowth and keenly serving great stuff from startup world.


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