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Florida SBDC Opportunity Zone Workshop

Tue 1:00 PM to 5:00 PM
Topic: Managing a Business

Join local leaders, developers, investors, and aspiring and existing small business owners to learn about a new, exciting investment tool: Opportunity Zones. What are Opportunity Zones? Created by the 2017 Tax Cuts and Jobs Act, Opportunity Zones are an important economic development tool that allows investors to receive tax relief when they put money into qualified projects in certain designated, economically distressed areas. There are 427 designated Opportunity Zones in Florida designed to stimulate business investment and spur economic development. The benefits of these investments are supercharged by the favorable tax treatment of capital gains. What are the investment benefits? A temporary tax deferral on any prior gains invested in a Qualified Opportunity Fund (QOF). The gain must be recognized on the earlier of the date on which the investment in a QOF is sold or exchanged, or December 31, 2026. A step-up in basis for capital gains reinvested in an Opportunity Fund. The basis of the original investment is increased by 10% if the investment in the qualified opportunity zone fund is held by the taxpayer for at least 5 years, and by an additional 5% if held for at least 7 years, excluding up to 15% of the original gain from taxation. A permanent exclusion from taxable income of capital gains from the sale or exchange of an investment in a qualified opportunity zone fund, if the investment is held for at least 10 years. (Note: this exclusion applies to the gains accrued from an investment in an Opportunity Fund, not the original gains). See source here. About the Workshops The Florida SBDC Network, in partnership with Madison Street Strategies, is hosting workshops across the state to help aspiring and existing business owners and investors learn how to leverage and benefit from this new investment program. Expert panelists and presenters will take a deep dive into what Opportunity Zones are, the tax benefits, eligibility requirements, available resources, and more. Agenda at a Glance Opportunity Zones 101 Opportunity Funds: Creation & Investment Federal Resources in Opportunity Zones Local Resources & Opportunities Tentative Dates/Locations

Speaker(s): Madison Street Strategies

Florida SBDC at FAU will send a link with instructions for access prior to the event

Fee: No Cost