Created in 2017 and quickly becoming a preferred investment strategy for individuals and corporations, Opportunity Zones (OZs) offer significant tax benefits. Puerto Rico has been designated almost in its entirety as an Opportunity Zone. The Opportunity Zone Act is one of the most important legislative developments in recent years and has the potential to move billions of dollars into low-income or financially distressed communities.
Creation of Opportunity Zones
The Tax Cuts and Jobs Act of 2017 (TCJA), known as the Opportunity Zone Act, allows investors to defer certain capital gains taxes by investing in Opportunity Zones (“OZ”). …
Opportunity Zones (OZs), established in 2017 and rapidly becoming a preferred investment strategy for individuals and companies, provide substantial tax benefits. Puerto Rico has almost completely been designated as an Opportunity Zone. One of the most notable policy changes in recent years is the Opportunity Zone Act and it has the potential to transfer billions of dollars into low-income or financially disadvantaged areas, according to Francisco De Armas-Cubas of Puerto Rico.
Establishing Opportunity Zones
Known as the Opportunity Zone Act, the Tax Cuts and Jobs Act of 2017 (TCJA) allows investors to delay some taxes on capital gains by investing in Opportunity Zones…
Francisco De Armas-Cubas, Esq., CPA
Private equity funds in Puerto Rico.
