Purpose-Built Opportunity Zone Fund Administration Solution Will Maximize CDCO’s Fund Security, Investor Transparency, and Regulatory Compliance
Earlier this year, NES Financial introduced a purpose-built Opportunity Zone Fund Administration Solution to its lineup of award-winning financial administration services. The Solution is specially designed for the new Opportunity Zone Fund tax program and will provide the tracking and record-keeping needed for investors to maximize their capital gain tax deferral, tax reduction, and elimination of taxes on appreciation of their investment in a fund.
The response across the industry has been overwhelmingly positive, and today the innovative fund administrator announced that it has contracted with the non-profit Community Development Corporation of Oregon (CDCO) to provide its purpose-built fund administration solution to their OZ Fund subsidiary, Oregon Community Capital, Inc. (OCCI).
The tax incentives associated with the Opportunity Zone (OZ) program were created to encourage long-term investment into targeted economically distressed areas across the country. Opportunity Zone investments offer investors 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 both for developers looking to raise capital at attractive rates, and for non-profit organizations like CDCO that seek to bolster small business and improve local economies.
Read the full press release by clicking here.
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