Opportunity Zones - Investor Tax Incentives
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The Opportunity Zone Program is becoming more and more popular in South Florida. Florida has 427 designated Opportunity Zones, 68 of them are in Miami Dade County. Areas include: Liberty City, Opa-Locka, Carol City, Little Haiti, North Miami and Aventura. See map above. T he program provides tax incentives to developers who build in these areas. An Opportunity Zone is an economically - distressed community where new investments, under certain conditions, may be eligible for preferential tax treatment. Localities qualify as Opportunity Zones if they have been nominated for that designation by the state and that nomination has been certified by the Secretary of the U.S. Treasury via his delegation authority to the Internal Revenue Service. Opportunity Zones are designed to spur economic development by providing tax benefits to investors. First, investors can defer tax on any prior gains until the earlier of the date on which an investment is sold or exchanged, or Decembe