Tax Opportunity Zones

$195.00

CLE Credits earned: 2 GENERAL (or 2 LAW & LEGAL for WA state)

“Opportunity Zones” are census tracts designated by state governors in which qualifying investments receive substantial tax breaks. The tax breaks include the deferral of federal capital gains tax, the reduction of that tax and the elimination of subsequent capital gains tax on some or all of the appreciation on the investment. A creation of the Tax Cuts and Jobs Act of 2017, Opportunity Zones are intended to stimulate long term investment in low-income census tracts by rewarding investors with meaningful tax benefits.

Key topics to be discussed:

•   What is the purpose of the OZ program
•   Description of enabling legislation and recently issued guidance
•   Creation of Opportunity Funds
•   Investments in OZ property and businesses

Date / Time: August 13, 2019

•   2:00 pm – 4:00 pm Eastern
•   1:00 pm – 3:00 pm Central
•   12:00 pm – 2:00 pm Mountain
•   11:00 am – 1:00 pm Pacific

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•   Live Video Broadcast/Re-Broadcast: Watch Program “live” in real-time, must sign-in and watch program on date and time set above. May ask questions during presentation via chat box. Qualifies for “live” CLE credit.
•   On-Demand Video: Access CLE 24/7 via on-demand library and watch program anytime. Qualifies for self-study CLE credit. On-demand versions are made available 7 business days after the original recording date and are view-able for up to one year.

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Original Broadcast Date: January 8, 2019

Michael Williamson, Esq. Chairs Buchalter’s Real Estate Practice Group and is a member of the firm’s Board of Directors. His practice includes finance, equity investments, opportunity zones, tax credits, real estate fund formation, syndicated investments, and portfolio and syndicated credit facilities, including asset-based lending, secured and unsecured credit facilities, municipal and project finance.

Michael represents project sponsors, funds, lenders, borrowers, and investors nationwide in financing, structuring and syndicating office, hotel, industrial, and multifamily projects. His projects involve tax credits, foreclosures, work-outs, opportunity zone investments and workouts or restructuring partnership disputes. He lectures frequently on financing issues, opportunity zones, historic preservation, tax credits, and real estate transactions.

Michael is active in community affairs in his hometown of Pasadena. He serves as chair of the City Planning Commission and on the Board of Zoning Appeals, and is founder, past president and vice president of development of Heritage Housing Partners, a nonprofit for-sale housing developer.

Education
Michael earned his B.A. in Government and Public Policy Analysis at Pomona College and his J.D. at Loyola Law School.

Bar Admissions
California


Joshua Perttula, Esq. is a founding partner of Abington Emerson and a current member of its Investment Committee. Mr. Perttula graduated with a B.A. in both Economics and Political Science from the University of California, Irvine and holds a J.D. from the University of California, Hastings College of the Law. Mr. Pertulla is an active member of the California State Bar and a licensed real estate broker in the State of California.

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Section I. Federal Tax Benefits of Opportunity Zone Investments

Section II. Overview of Opportunity Zones

Section III. Who can take advantage of the OZ benefits?

Section IV. How does this work in practice?

Section V. Qualified Opportunity Funding (QOF)

Section VI. QOZ stock or partnership interest?

Section VII. QOZB

Section VIII. QOZB property

Section IX. Opportunity Zone Fund Investment Structures

Section X. Land v. Building as QOZBP

Section XI. Penalty if QOF fails to timely deploy (reinvest?) investments