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Business Journal talks to Jordan Rose about what she calls a ‘gift from the Federal Government’ – Opportunity Zones

Downtown Phoenix is listed as a new Opportunity Zone, which could help spur even more development in the area./Phoenix Business Journal

By Brandon Brown | Phoenix Business Journal

One of the hottest topics among lawyers, real estate brokers and developers around Arizona right now is a seldom-discussed part of the Tax Cuts and Jobs Act that congress passed in December 2017.

In just a few pages, the law created a new program meant to spur economic development and create an opportunity for people to avoid paying capital gains taxes.

The new tools are called Opportunity Zones and Opportunity Funds. Since the approval of the zones, phones have been ringing off the hook at law offices around town with people wondering how they can start an Opportunity Fund, when they should buy land in an Opportunity Zone or what they should do since the property they own just became part of one of these prized zones.

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Rose Law Group Reporter, which provides Dealmaker’s content and service, is contracted by Rose Law Group. Rose Law Group is a full service real estate and business Law Firm practicing in the areas of land use/entitlements, real estate transactions, real estate due diligence/project management, special districts, tax law, water law, business litigation, corporate formation, intellectual property, asset protection, data breach/privacy law, ADA compliance, estate planning, family law, cyber-law, online reputation and defamation, lobbying, energy and renewable energy, tax credits/financing, employment law, Native American law, equine law, DUIs, and medical marijuana, among others. The views expressed above are not necessarily those of Rose Law Group pc or its associates and are in no way legal advice. This blog should be used for informational purposes only. It does not create an attorney-client relationship with any reader and should not be construed as legal advice. If you need legal advice, please contact an attorney in your community who can assess the specifics of your situation.