Foreign Investors May Benefit From Opportunity Zones
By Galia Antebi and Nina Krauthamer ( October 18, 2018, 4:25 PM EDT) -- The U.S. federal, state and local governments typically offer tax benefits to businesses to encourage economic growth and investment in certain industries and geographic areas. The Tax Cuts and Jobs Act of 2017 added an important new provision that provides a tax break aimed at bringing together private capital and low-income communities, which otherwise would not have been the recipients of similar investments. The goal is to unlock unrealized gains (estimated at over $6 billion) and direct the gains to be invested in funds that are active in distressed areas designated as "opportunity zones" because they fall within low-income community census tracts....
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