Q&A: Qualified Opportunity Zones

Why would I be interested in Qualified Opportunity Zones (QOZs)? This new tax provision was created to spur investment in certain under-performing economic areas known as Qualified Opportunity Zones. You can find a map of North Carolina’s zones here. Investing in a QOZ is one of the few opportunities in the tax code to defer (and possibly eliminate) tax on gains. Thus, you can put the whole amount of your proceeds from a sale to work rather than the proceeds less income taxes. How long can I defer paying taxes on my gain? Until you sell or exchange your interest […]