Opportunity Zones

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NJ Denies Tax Break For Cannabis Sales In Enterprise Zones

By Zak Kostro

New Jersey will not allow sales of medical and recreational cannabis by businesses in designated urban enterprise zones to be eligible for a reduced sales tax rate under a bill signed by Democratic Gov. Phil Murphy.

Lawyers Launch Miami-Based Opportunity Zone Fund

By Chuck Slothower

For David Cohen and Liam Krahe, two attorneys with experience in rental real estate transactions and securities, Opportunity Zone funds presented a solution to a common problem.

NJ Bills Would Allow Lower Tax Rate On Land Improvements

By Zak Kostro

New Jersey would allow some municipalities to impose a lower property tax rate on improvements to land than on the land itself and would propose a state constitutional amendment to allow for the lower rate under measures introduced in the state Assembly.

Developer Says PNC Isn't Owed In Housing Tax Credits

By Brent Godwin

A development partnership has pushed back on a Texas magistrate judge's recommendation that it pay PNC Bank $600,000 from a tax credit settlement agreement, arguing it delivered the full amount of tax credit funds owed in the affordable housing deal being disputed.

GOP Reps. Call For Renewal Of Business Tax Breaks

By Asha Glover

House Republicans on Wednesday continued to call for an extension of the 2017 tax law's expired and expiring business provisions, including the research and development tax break, saying during a Ways and Means subcommittee hearing that the provisions would increase economic growth.

Lawmakers Eye More Clarity, Fairness In Opportunity Zones

By Stephen K. Cooper

Amid rising concerns about opportunity zones' efficacy in addressing economic disparities in impoverished areas, lawmakers will propose legislative reforms this week requiring mandatory data reporting of opportunity zone investments in hopes of creating a more transparent and accountable system.


Expert Analysis

A Tough Road Ahead for Democrats' Ambitious Policy Agenda

While Democrats in Congress are well on their way to enacting an initial COVID-19 relief bill, they will face challenges when pivoting to President Joe Biden's Build Back Better goals for job creation and economic revitalization, say Russell Sullivan and Radha Mohan at Brownstein Hyatt.

Opportunity Zone Pandemic Relief Is Welcome, But Limited

The Internal Revenue Service's new notice relaxing deadlines and requirements for opportunity zone investors during the pandemic is helpful, but misses an opportunity to clarify important safe harbors, says Jessica Millett at Duval & Stachenfeld.

Opportunity Zone Investment Options Should Be Expanded

Future opportunity zone legislation should limit the capital gains requirement and broaden tax incentives to allow participation from currently excluded investors with deep connections to community revitalization, says Venroy July at Miles & Stockbridge.

MORE COVERAGE

August 9, 2023 05:18 PM

Mo. Local Sales Tax Applies To Cottage Bookings, Dept. Says

June 16, 2023 04:34 PM

Opportunity Zones Working But Could Be Improved, Pros Say

June 14, 2023 11:50 AM

La. Extends Tax Breaks For Biz Investment To 2030

June 12, 2023 04:03 PM

Texas Creates Property Tax Incentive For Commercial Property

June 9, 2023 05:44 PM

Okla. Boosts Tax Credit For Film Production Expenditures

June 9, 2023 06:19 PM

GOP Tax Bills Would Extend Bonus Depreciation, R&D Breaks

June 6, 2023 05:03 PM

IRS Urged To Let Qualified Opportunity Funds File Form Late

May 30, 2023 06:16 PM

Texas Sets Process For Possible Local Child Care Tax Breaks

May 25, 2023 01:38 PM

Texas Voters To Weigh In On Child Care Tax Break Proposal

May 19, 2023 01:13 PM

Ill. To Provide Tax Breaks For Construction Projects

May 17, 2023 06:34 PM

Texas Lawmakers OK Local Tax Break For Child Care Property

May 9, 2023 06:49 PM

Md. To Expand Film Production Tax Credit, Boost Annual Cap

May 9, 2023 11:31 AM

Ga. Extends Sales And Use Tax Break For Regional Projects

May 5, 2023 02:11 PM

Ind. Enables Coal Mine Reclamation Tax Credits Up To $5M

May 2, 2023 06:10 PM

RI Senate Bill Would Phase In $250K Biz Property Tax Break

April 17, 2023 05:20 PM

Ark. To Provide Data Center Equipment Sales, Use Tax Break

April 13, 2023 05:02 PM

ND Creates Tax Break For Some Feedstock Refinery Materials

April 12, 2023 05:59 PM

Md. Extends Sales Tax Break For Some Construction Material

April 10, 2023 02:31 PM

Ark. Lawmakers OK Tax Break For Water Transport Upgrades

April 5, 2023 04:26 PM

Wis. Senate Bill Seeks Sole Proprietor Employee Tax Credit