Eliminate or defer capital gains taxes by investing in distressed communities.
Lean on the experienced tax and legal counsel of Allegis Law to plan your opportunity zone (OZ) investment. From establishing a Qualified Opportunity Fund (QOF) to confirming eligibility for treatment under the opportunity zone program, opportunity zone lawyer Rustin Diehl will help you maximize tax benefits and other incentives while avoiding costly mistakes.
We support you throughout the entire investment process—from capital deployment to asset disposition—so you can get the most tax benefits, minimize risk and stay compliant with OZ rules.
Design and structure your fund to achieve your goals while satisfying the requirements under the Opportunity Zone Program. Opportunity zone structures can be configured in various ways, and make a significant difference in both tax planning, as well as capital placement for investors, and even fund management.
Assess the best strategies for deploying your capital into Opportunity Zone projects, ensuring your investments are both strategic and compliant. Navigate the 180-day capital gains reinvestment window so you can avoid missing crucial tax benefits. Identify qualifying projects or businesses that align with your investment goals, helping you make informed decisions.
Verify that your potential investments meet all legal and financial requirements, giving you peace of mind. Assess the long-term viability and compliance of your chosen Opportunity Zone fund or project, so you can move forward with confidence.
Get advice on the best timing and legal considerations for disposing of Opportunity Zone assets, ensuring you maximize your tax benefits. Meet the 10-year holding period requirement to achieve tax-free gains. Receive guidance on transitioning or selling Opportunity Zone properties or businesses while maintaining full compliance.
Structure your investments to optimize tax benefits and ensure compliance with both federal and Utah Opportunity Zone regulations. Determine the best legal entities and structures (e.g., LLCs, partnerships, corporations) for your Opportunity Zone investments, ensuring your strategy is tailored to your needs.
Benefit from ongoing tax planning strategies to help you defer and potentially eliminate capital gains taxes. Structure your OZ investments to maximize federal, state, and local tax incentives.
Stay up to date on OZ law changes so you can stay compliant. We help you file on time and meet the strict requirements for your OZ projects.
Receive legal oversight throughout the duration of your project to ensure it remains compliant with Opportunity Zone requirements. Get support in managing multiple Opportunity Zone investments.
Opportunity Zone Funds (OZFs) can target a single project or diversify across multiple investments. Single-asset Funds offer focused control but concentrate risk, while Multi-Asset Funds reduce risk through diversification at the cost of added complexity. Each structure has unique benefits and risks, allowing investors to align with their goals and risk tolerance.
A specific tract of land designated by the Secretary of Treasury. Investing in a qualified opportunity zone property, a qualified opportunity zone business, or a qualified opportunity zone fund with assets in these tracts of land qualify for tax benefits when structured correctly.
A list of designated qualified opportunity zones can be found here.
Created under the Tax Cuts and Jobs Act, the Opportunity Zones tax incentive provides tax benefits for real estate developers, fund managers, and anyone looking to defer or potentially eliminate capital gains taxes on a portion of their investment portfolio. The Opportunity Zone Program established new tax benefits to encourage investment into economically-distressed communities.
By investing into a Qualified Opportunity Zone (QOZ), investors can avoid between 10% and 100% of capital gains taxes upon asset disposition.
An Opportunity Zone Fund, formally known as a Qualified Opportunity Fund (QOF), is an investment vehicle created to invest in Qualified Opportunity Zone property. These funds are designed to provide tax benefits for investing in economically distressed areas designated as qualified opportunity zones.
To be and stay a Qualified Opportunity Fund, the entity must annually file Form 8996 which is attached to the federal tax return of the eligible partnership or corporation. Form 8996 does three things: certifies the fund is created to invest in OZ property, reports the fund is in compliance with the 90% requirement and calculates any penalties if the 90% requirement is not met.
The 90% requirement is measured based on the average percentage of Qualified Opportunity Zone property held by the fund on the last day of the first six months and the last day of the tax year. Staying compliant is key to avoid penalties and get the most tax benefits for your investors
The IRS has a list of FAQs on Opportunity Zones but unless you have a few weeks to read the answers and related sections of the tax code, we suggest you schedule a tax transaction consultation so we can discuss your goals and design a plan for your OZ investment.
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