Opportunity Zones
Great Basin Ventures invests in a wide variety Qualified Opportunity Zone projects throughout the intermountain west. If you are interested in investing or to find out what opportunity zones are and the benefits they bring, contact our team today.
What are Qualified Opportunity Zones?
Qualified Opportunity Zones were created as part of 2017’s Tax Cuts and Jobs Act, under a new provision in section 1400Z. The Qualified Opportunity Zones are formally designated low-income population census tracts that were nominated by the Governor’s office for each state, chosen from a list compiled using U.S. Treasury guidelines.
Currently, there are over 8,700 Qualified Opportunity Zones throughout the United States and its territories and can account for up to 25% of designated census tracts in any given state. Qualified Opportunity Zones include urban, rural, and suburban areas, as well as locations zoned for commercial, residential, and industrial development.
The current Qualified Opportunity Zone designations will remain in effect until December 31, 2028. The provision intends to serve as a catalyst for economic investment in low-income and under-developed communities by offering preferential tax treatment for capital gains invested in a Qualified Opportunity Fund such as Great Basin Opportunity Zone Fund
What is an Opportunity Zone Fund?
An Opportunity Zone Fund are private sector investment vehicles that have the specific purpose of investing in Opportunity Zone assets and enterprises. To participate in an Opportunity Zone Fund–and receive the tax incentives–a person must generate a capital gain and then allocate the capital to an Opportunity Zone Fund within 180 days of realizing the gain.* The Opportunity Zone Fund must then purchase an Ozone property within 30 months.
* Great Basin Ventures does NOT provide investment advisory services or tax advisory services in any manner or form. Potential investment in Great Basin Opportunity Zone Fund are not bank deposits or obligations and are not guaranteed by Great Basin Opportunity Zone Fund or any of its affiliates or subsidiaries. This investment is not insured by any governmental agency and is subject to investment risks, including the possible loss of the principal amount invested. Past performance is not indicative of future results, prices/invested sum is subject to market risks which may result in appreciation or depreciation. The ownership of any investment decision(s) shall exclusively vest with the Investor after analyzing all possible risk factors and by exercise of his/her/its independent discretion. Great Basin Opportunity Zone Fund shall not be liable or held liable for any consequences thereof.
What are the potential tax benefits of investing in an Opportunity Zone Fund?
- Taxable capital gains invested in Opportunity Zone Fund reduced by up to 10% and deferred until year-end 2026 if held until that time
- All investment gains excluded from taxable income if the asset is held for at least 10 years
- For more information, visit IRS.gov
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contact Great Basin Ventures to learn more about our company and our values.