Brooks Pierce Partners Write About New Tax Benefits of Opportunity Zones for Triad Business Journal
The Triad Business Journal recently published an article written by Brooks Pierce partners Tony Barwick, John Cross and Adam Tarleton.
The article, entitled “Here are the three benefits of investing in a Qualified Opportunity Fund,” discusses a recent change in tax laws designed to stimulate investment and economic growth in distressed areas referred to as “Qualified Opportunity Zones.” The N.C. Department of Commerce has designated 252 census tracks across the state as Qualified Opportunity Zones.
The article provides an analysis of the short-term and long-term monetary and tax-related benefits of these investments.
“Given the wide reach of the Opportunity Zone Program, if you have recently sold a business or real estate interest and are contemplating re-investing the gain, then your next investment may qualify for deferral of taxes owed on the gain,” the article states.
Barwick regularly assists clients in successfully structuring, negotiating and completing a wide variety of complex transactional matters. Cross advises clients on general business and transactional matters, contracts, mergers and acquisitions, securities, franchises and real estate. Tarleton counsels clients on complex federal and state tax laws impacting their businesses and provides practical advice on structuring business transactions in the most tax-efficient way possible.
The full republished article text is available here.