The land of Opportunity Zones
by Callan Smith | Rose Law Group Reporter
From left, Joshua Hayes, CPA and partner at Eide Bailly, Todd Pryor, Superior town manager, Fernando Garcia, economic development specialist for the City of Casa Grande, Dan Gauthier, attorney at Rose Law Group, Cameron Carter, partner and director of Transactions at Rose Law Group, and Jeffrey Fairman, economic development specialist for the City of Eloy/RLGR
Tuesday morning at Rose Law Group was all about opportunity zones, when the firm hosted 62 people at an in depth discussion with a panel of experts moderated by firm President and Founder, Jordan Rose at its Scottsdale office.
Opportunity Zone investment is a long-term investment vehicle with three tax brackets and a tax date built into the law of December 31, 2026. On January 1, 2027, the investor will pay the percentage cut of the tax on the investment based on the length it has been held within one of the three different brackets, Dan Gauthier, Rose Law Group attorney handling a lot of opportunity zone projects, said.
First, if an investor holds the investment of five years, capital gains reinvested are reduced by 10 percent. Second, if an investor holds the investment seven years, the taxable amount of capital gains reinvested is reduced by 15 percent. Third, if the investment is held ten years, the amount of capital gains reinvested is reduced by 15 percent and no tax is owed on appreciation.
