Opportunity Zone Program May Boost Hospitality Investments
Law360, New York (July 22, 2019, 2:20 PM EDT) -- Hospitality investors should be paying attention to the U.S. Department of the Treasury’s ongoing guidance concerning the opportunity zone program of the Tax Cuts and Jobs Act of 2017. The recent set of proposed regulations provide investors with better guidance and greater flexibility to allocate capital to active businesses, while reducing or eliminating capital gains tax. Hospitality-related assets and operations are well suited towards the opportunity zone program, and investments in hotel and restaurant operations should see millions of dollars of additional investment as a result.
The opportunity zone law was created to encourage investment in economically distressed areas. Investors can...
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