The Tax Cuts and Jobs Act of 2017 created the Opportunity Zones program, which allows states to designate Opportunity Zones (“Zones”) within their state lines wherein investment may provide significant tax incentives. Under this program, investors can delay paying tax on capital gains until as late as December 31, 2026 if those gains are invested in Opportunity Funds (“Funds”) that invest in Zones across the country. Arizona’s Zones were approved in April 2018, making it one of the first states in the country to have its Zones officially designated.
These tax benefits could drastically reduce the cost of capital for these projects; for example, gains on investments in Funds can be federal income tax-free if the investment is held for at least 10 years. Rose Law Group provides a variety of services in conjunction with the Opportunity Zones program to help fund sponsors, developers, and investors unlock the full potential of the Opportunity Zones program. Our attorneys have studied the program extensively and know how to help you and your company get the greatest value from the Opportunity Zones program.
To learn more about Opportunity Zones, see Rose Law Group’s recent articles below.
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Rose Law Group’s naming of partner Tom Galvin as director of firm’s Opportunity Zone Group receives shoutout in AZBEX
By AZBEX 1. Three Salt River Project employees and one retiree have been named 2023 SRP Presidents’ Volunteer Spirit Award recipients for their exemplary dedication to helping people and nonprofit organizations through their volunteer efforts. SRP Meter Engineering employee Denisse Delos Santoswon for her work with Asian Corporate & Entrepreneur Leaders. SRP Supplier Diversity Program Manager Erika Castro was given the Karl F. Abel Award for her work with Chandler Cultural Foundation/Chandler Center for the Arts. SRP Revenue
Can I 1031 into a Qualified Opportunity Zone? Tom Galvin, partner and director of Opportunity Zone Group at Rose Law Group, provides insight
By Daniel Goodwin | Kiplinger It is a well-known fact that the IRS is loath to extend tax deferrals and even more reluctant to eliminate taxes entirely. So when such tax breaks are available, it’s smart to take full advantage of them. To that end, we’ve been talking a lot over the last several years about two such programs, one
By YourValley The Rose Law Group has named partner and Maricopa County Supervisor Thomas Galvin as director of its opportunity zone group. Rose Law Group was one of the first law firms in the county to get actively involved in Opportunity Zones, as soon as the economic development and tax benefit tool became effective in 2018. Galvin has background in