Connecting designated opportunity zone investments with the investors ready to drive impact & growth.
Opportunity North Carolina is dedicated to connecting designated opportunity zone investment opportunities with the investors ready to drive impact & growth through the The Tax Cuts and Jobs Act (H.R.1).
From rural eastern North Carolina to our metropolitan centers, there are 252 designated Opportunity Zone tracts representing every NC county. The tracts were determined by the same poverty and income criteria that determine eligibility for New Markets Tax Credits – as defined by Internal Revenue Code Section 45D(e).
The 252 tracts represent:
A total population over 1.1 million people
Nearly 45,000 families with children in poverty
Over 50,000 business establishments
Over $580 million in received public and private investments over the past 5 years
OPPORTUNITY ZONES | FUNDS
The NC Opportunity Zones Program is designed to encourage job creation, economic development, housing and other community centric investments throughout North Carolina by providing tax benefits to investors (Opportunity Fund Managers).
An Opportunity Zone is an economically-distressed community where new investments, under certain conditions, may be eligible for preferential tax treatment. Localities qualify as Opportunity Zones if they have been nominated for that designation by the state and that nomination has been certified by the Secretary of the U.S. Treasury via his delegation of authority to the Internal Revenue Service.
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:
Roll in capital gains and defer tax until December 31st, 2026.
Up to 15% tax reduction after 7 years.
Stay in it for 10 years = Zero capital gains tax on earnings.
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.