Understand various components of opportunity zone transactions and how such transactions are structured.
Enacted in 2017 by Congress’s Tax Cuts and Jobs Act, the opportunity zone program is designed to create jobs and drive investment into certain low-income communities located in economically distressed census tracts designated by the state. The program allows investors the opportunity to invest eligible gains into Qualified Opportunity Zone Funds, which will then make investments into low-income communities and allow investors to defer gains.
This presentation will discuss the various components of an opportunity zone transaction, including what qualifies as a Qualified Opportunity Zone Fund, a Qualified Opportunity Zone Business Property, and a Qualified Opportunity Zone Business. The topic will also cover types of eligible gains and how such transactions are structured.
Learning Objectives
- You will be able to describe the various components of an opportunity zone transaction.
- You will be able to identify what qualifies as a Qualified Opportunity Zone Fund, a Qualified Opportunity Zone Business Property, and a Qualified Opportunity Zone Business.
- You will be able to discuss types of eligible gains and how transactions are structured.
- You will be able to explain the benefits of investing in an opportunity zone.
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Agenda
| Purpose of the Opportunity Zone Provisions as Noted in the Anti-Abuse Provisions | |
| Benefits of Investing in an Opportunity Zone | |
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| Eligible Gain | |
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| Qualified Opportunity Fund (QOF) | |
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| Qualified Opportunity Zone Business Property (QOZBP) | |
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| Qualified Opportunity Zone Business (QOZB) | |
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| Anti-Abuse Rules | |
| Interaction With Other Tax Subsidies | |
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| Sales of an Interest in a QOZB or of Assets by QOZB | |
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Credits
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- AIPB 2.0
- This program is acceptable for 2.0 CPEC(s) towards the CB designation through the American Institute of Professional Bookkeepers (AIPB).
- AK CLE 1.5
- Alaska attorneys may receive 1.5 hours of continuing legal education for completing this program. Please contact the Alaska Bar Association or go to www.alaskabar.org for details regarding reciprocity with other states.
- AL CLE 1.7
- This course or a portion thereof has been approved by the Alabama State Mandatory Continuing Legal Education Commission for a maximum of 1.7 hours credit.
- AR CLE 1.5
- This course has been approved for 1.5 hours of CLE by the Arkansas CLE Board.
- Arizona CLE 1.5
- The State Bar of Arizona does not approve or accredit CLE activities for the Mandatory Continuing Legal Education requirement. This activity may qualify for up to 1.5 hours toward your annual CLE requirement for the State Bar of Arizona.
- CA MCLE 1.5
- Lorman Business Center, LLC. is a State Bar of California approved MCLE sponsor and this course qualifies for 1.5 CLE hours of participatory credit.
- CT CLE 1.5
- Neither the Connecticut Judicial Branch nor the Commission on Minimum Continuing Legal Education approve or accredit CLE providers or activities. This course has been approved for CLE credit in jurisdictions aside from CT and therefore it automatically meets the content and delivery requirements in Connecticut. Credit is based on a 60 minute credit hour and shall be awarded as follows: 1.5 CLE credit(s).
- GA CLE 1.5
- This program has been approved by the Georgia Commission on Continuing Lawyer Competency for 1.5 CLE hours.
- HI CLE 1.5
- This program was approved by the Hawaii State Board of Continuing Legal Education for 1.5 CLE credit hours.
- IN CLE 1.7
- This program has been approved by the Indiana Commission on Continuing Legal Education. Participating attorneys are eligible to receive up to 1.7 hours of Distance Education credit.
- MO CLE 2.0
- This program has been approved by the Missouri Bar for 2.0 hours of CLE.
- MS CLE 1.7
- This program has been approved by the Mississippi Commission on Continuing Legal Education for a maximum of 1.7 credit hours.
- NC CLE 1.5
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- ND CLE 1.75
- This program has been reviewed by the North Dakota Commission for Continuing Legal Education and approved for 1.75 hours of CLE credit.
- NH MCLE 1.6
- NH MCLE does not approve or accredit CLE activities for the NH Minimum CLE requirement. Lorman Education Services believes this course meets the requirement of NH Supreme Court Rule 53 and may qualify for CLE credit(s). Program Length: 95 Minutes.
- NJ CLE 2.0
- This program has been approved by the Board on Continuing Legal Education of the Supreme Court of New Jersey for 2.0 hours of total CLE credit.
- NM CLE 1.6
- This program has been approved by the New Mexico Minimum Continuing Legal Education Board for 1.6 hours of credit.
- NV CLE 1.5
- This program has been approved by the Nevada Board of Continuing Legal Education for 1.5 CLE hours.
- OH CLE 1.75
- This course has been approved by the Ohio Supreme Court Commission on Continuing Legal Education for 1.75 CLE credit hours.
Please note: In order to receive OH CLE credit for this audio conference you MUST use the streaming option and enable and complete the required progress checks. This course is considered Self-Study. No more than twelve (12) hours of self-study CLE credit for any biennial reporting period may be earned by an Attorney or Judge under Regulation 409.2.
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- This program has been approved by the Rhode Island Mandatory Continuing Legal Education Commission for 2.0 hours of CLE credit.
- VT CLE 1.5
- This program has been approved by the Mandatory Continuing Legal Education Board of Vermont for 1.5 hours of CLE credit.
- WI CLE 2.0
- This program has been approved by the Board of Bar Examiners for 2.0 hours for use toward the Wisconsin Mandatory CLE requirement.
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- This program has been approved by the West Virginia State Bar MCLE Commission for 2.0 MCLE hours.
CPE 2.0 including Taxes 2
- Lorman Education Services is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its web site: www.nasbaregistry.org. For more information regarding administrative policies such as complaint and refund, please contact our offices at 866-352-9539. CPE Credit: Maximum Credit Hours: 2.0 each session (based on a 50 minute credit hour). You must attend at least 50 minutes to obtain credit. Field of Study: Taxes for 2.0 hours. Prerequisite: basic knowledge of general accounting. Level of Knowledge: Intermediate. Teaching Method: Seminar/Lecture. Advance Preparation: None. Delivery Method: Group Internet Based. Please refer to the information in this brochure for outline, course content and objectives. Upon completion of this course, you will receive a certificate of attendance. Final approval of a course for CPE credit belongs with each state's regulatory board.
Please note: In order to receive CPE credit for this course you MUST use the streaming audio option, as well as enable and complete the required progress checks.
Who should attend?
This live webinar is designed for accountants, CPAs, CEOs, presidents, vice presidents, CFOs, controllers, business owners and managers, bookkeepers, tax preparers, and attorneys.
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Over 36 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
A. Ann Hered
Butler Snow LLP
- Experienced public finance attorney with a focus in New Markets Tax Credits and bonds
- Practice areas and industry teams include government finance, public finance, tax credits, and taxation of businesses
- Bar admissions include Colorado, New York, and California
- Member of the American Bar Association
- J.D. degree, cum laude, Cornell University; LL.M in taxation, University of Denver; LL.M. in trade regulation, New York University; B.A. in economics and policy studies, Rice University
- Can be contacted at [email protected] or 720-330-2351
Thane R. Hodson
Butler Snow LLP
- Assists clients with structuring new markets tax credits financings, including upper-tier lending arrangements, direct and indirect credit enhancement of lower-tier borrowing arrangements, and lower-tier equity financing
- Practice areas and industry teams include governmental finance, hospital and healthcare finance, public finance, tax credits, and taxation of businesses
- Bar admissions include Colorado, Kansas, and U.S. Tax Court
- Member of the American Bar Association, Colorado Bar Association, and Kansas Bar Association
- J.D. degree, Washburn University; LL.M. degree in taxation, Georgetown University; B.A. in political science, cum laude, University of Kansas
- Can be contacted at [email protected] or 720-330-2350
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