Proposed Opportunity Zone Rules: Round II
Part 1: Much needed Guidance for Start-Ups and Operating Businesses The IRS and Treasury issued a second round of proposed rules on April 17, 2019. The second round of Qualified Opportunity Zone (QOZ) guidance includes a total of 169 pages covering topics ranging from additional definitions of the commonly used
Ohio Senate takes steps to further Opportunity Zone Investment
The Ohio Senate passed the legislation to incentivize investments to Ohio Opportunity Zones by offering a 10% tax credit on the investment. The maximum amount of credits allowed by Ohio for a two year period is $50 Million, with a per applicant cap of $1 million. Investors will apply for
Continued Growth Ahead for Midwest Construction Companies
Continued growth is forecast for construction companies across the Midwest in 2019. New hospital, manufacturing, retail and lodging, highway, public infrastructure and school construction is expected to expand. The continued demand comes against the backdrop of a shrinking labor pool which have left many wondering how to cope with the
Ohio Opportunity Zone income tax credit legislation introduced
News from the Governors biennial budget March 13, 2019 Under the governor’s proposal, Ohio would provide a 10 percent, nonrefundable income tax credit to those who invest in the state’s Opportunity Zones. The Executive Budget proposes a nonrefundable personal income tax credit equal to 10 percent of capital gains reinvested
Opportunity Zones: The Sleeper Hit of Tax Reform
Opportunity Zones have the potential to be one of the biggest tax incentives ever. However, we’ve found that not a lot of people are aware that they exist or how to take advantage of them. Before we get into a discussion about Opportunity Zones and the related tax benefits, ask
Tax Reform vs. Real Estate Investors: Why you won’t be filing on a postcard, Part I
To provide clarity on the effect of tax reform on the real estate industry, we will be focusing on a different aspect of the newly passed legislation every month. Keep in mind that there still are many open questions as to how these new provisions will apply to taxpayers. The