Last month, we introduced a purpose-built Opportunity Zone Fund Administration Solution to add to our lineup of award-winning financial administration services. On the back of this new service offering, we recently confirmed that Reid Thomas, Executive Vice President at NES Financial, will speak at the upcoming Opportunity Fund Investing Conference hosted by Community Development Corporation of Oregon.
The Investing in Opportunity Act was signed into law on December 22, 2017, with the purpose of encouraging long-term investment into targeted economically distressed areas across the U.S. Based on their duration, Opportunity Zone (OZ) investments offer investors significant tax incentives, including temporary tax deferral, partial reduction of taxes on an investor’s realized capital gains, and total elimination of taxes on all capital gains due to the appreciation of the OZ investment. As a result, the OZ program opens up enormous potential for developers looking to raise capital at attractive rates and use it to acquire or improve business properties within the qualified zones. With over $6 trillion in unrealized capital gains in the United States, this program has the potential to be the most impactful economic development initiative in history.
The Opportunity Fund Investing Conference will be held on September 14 in Portland, Oregon, with the aim of educating potential investors on the program’s benefits, as well as how to navigate its particular challenges. Mr. Thomas’s presentation, “Establishing Best Practices in Opportunity Zone Fund Administration,” will highlight the advantages of a fund administration solution purpose-built for the Opportunity Zone program.
Read the full press release by clicking here.
Allow us to address your business needs by contacting us. We look forward to hearing from you!