Proposed Opportunity Zone Regs Hazy On Marijuana Projects

By Amy Lee Rosen (February 12, 2019, 8:16 PM EST) -- Investors in marijuana businesses are eager to capitalize on the generous tax benefits provided by opportunity zones, but recently proposed IRS rules are unclear on whether marijuana-related projects are barred from the program, making them a potentially risky proposition.

A grower at Loving Kindness Farms tends a crop of young marijuana plants in Gardena, California. (AP) Created by way of the Tax Cuts and Jobs Act, the opportunity zone program is designed to help low-income communities by giving an investor with capital gains a chance to reinvest them in a qualifying opportunity zone fund and defer tax on the gains from that fund or...

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