Matthew J. Schiller, a partner in the firm’s Real Estate Department, will present the live webcast “Tapping Into the Benefits of Opportunity Zones in 2020” on Wednesday, November 6, 2019 from 9:00am – 12:35pm.
The Opportunity Zone Program was enacted as part of the 2017 federal Tax Cuts and Jobs Act, and is designed to drive long-term capital investments in designated low-income communities that have specially designated as “Opportunity Zones”. Incentives for investors include:
- A temporary tax deferral for capital gains reinvested in an Opportunity Fund.
- A step-up in basis for capital gains reinvested in an Opportunity Fund.
- A permanent exclusion from taxable income of capital gains from the sale or exchange of an investment in a qualified opportunity zone fund, if the investment is held for at least 10 years.
Mr. Schiller’s presentation will address the following topics:
- What are opportunity zones and where are they located in New Jersey?
- Status of Opportunity Zone regulations
- The tax incentives and deadlines under the Opportunity Zone Program
- Creating and investing in Qualified Opportunity Funds
- Understanding Qualified Opportunity Zone Property and Qualified Opportunity Zone
- Strategies for creating new Qualified Opportunity Zone Businesses
- New Jersey conformity with the Opportunity Zone Program
- Acquisition, development and leasing strategies under the Opportunity Zone Program
Mr. Schiller concentrates his practice in commercial real estate law. His work encompasses a wide array of commercial real estate transactional, zoning, redevelopment, taxation and litigation matters throughout New Jersey, New York and Connecticut. His transactional experience includes the acquisition, disposition, leasing and management of office, retail, and industrial properties, with a recent focus on properties located in Opportunity Zones. He has assisted clients with the creation of Qualified Opportunity Funds (QOFs) and Qualified Opportunity Zone Businesses (QOZBs) under the Opportunity Zone Program.
Additional information and registration at: Tapping Into the Benefits of Opportunity Zones in 2020