A Qualified Opportunity Fund is a private sector investment vehicle that is set up as either a partnership or corporation for investing in eligible property that is located in a Qualified Opportunity Zone, 90 percent of the capital must be deployed in Opportunity Zones. To receive the tax benefits offered by an Opportunity Fund, an investor must invest the gains from a sale of a prior investment (e.g., real estate, a company exit, bonds, stock, etc) into an Opportunity Fund within 180 days of the sale of that investment.
Examples of entities qualified to create Opportunity Funds: individuals, C corporations (including regulated investment companies (RICs) and real estate investment trusts (REITs)), partnerships, and certain other pass-through entities, including common trust funds described in section 584, as well as, qualified settlement funds, disputed ownership funds, and other entities taxable under §1.468B of the Income Tax Regulations. (IRS.GOV)
The Three Advantages of Opportunity Zone Investment:
Opportunity North Carolina works closely with clients both on the Opportunity Zone and Opportunity Fund front to qualify and expedite deal flow for all interested parties.
Our team consists of economic development professionals, business lenders, real estate developers, attorneys and accountants that believe in increased equitability and access for underserved communities.