‍What is an Opportunity Zone(‘OZ’) ?

The Qualified Opportunity Zone program was created under the Tax Cuts and Jobs Act of 2017 to stimulate investment in designated communities in need of economic growth, called Qualified Opportunity Zones.

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Benefits of Investing in Newark’s Opportunity Zones…

Deferral

A  temporary deferral of inclusion in taxable income for capital gains  reinvested into an Opportunity Fund with 90% of its assets in one or  more Opportunity Zones until December 31st,  2026 or exit from the  Fund, whichever comes first.

Reduction

Reduction  in the taxable value of reinvested capital gains by 10% if the investment is  held in the Opportunity Fund for at least 5 years and by an additional 5% if held  for at least 7 years. This excludes 15% of the original gain from  taxation.

Exclusion

New  gains from Opportunity Fund investments  held for at least 10 years are permanently excluded from  the capital gains tax. These Fund investments can be held through as late as  2047 without losing tax benefits.

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