Opportunity Zones

Delivering benefits for distressed communities and tax advantages for investors amidst continually evolving guidance and new Federal and State rules and regulations

The Tax Cut and Jobs Act encourages tax-favored investments in distressed communities through the creation of Opportunity Zones.

Through the end of 2026, the most significant benefit to investors is the potential to defer tax on capital gains from their investments in these zones, if certain criteria are met.  While delivering benefits for distressed communities and tax advantages for investors, Qualified Opportunity Fund (QOF) formation and ongoing management are subject to continually evolving guidance and new federal and state rules and regulations.

If you would like to know more about developing a QOF or participating as an investor in an Opportunity Zone, contact Ryan Scheck, Opportunity Zone Leader, using the fillable “Contact Us” form on this page.

Background:

The Opportunity Zone program is different from existing programs because it is less reliant upon government agencies and less restrictive and costly to participate, in comparison with New Markets Tax Credit (NMTC) Program and Low-Income Housing Tax Credit (LIHTC) Program.

Investments in an opportunity zone are conducted through a Qualified Opportunity Fund (QOF) certified by the U.S. Treasury Department. QOFs are legal entities structured for investing in real estate or other businesses located in certain census tracts that have been designated as qualified opportunity zones (QOZs). In an ever-changing environment of new rules and regulations, QOFs require compliance with formation, structure, operational, and reporting requirements including financial statement audits and both federal and state tax reporting.

Solutions

Qualified Opportunity Fund (QOF) sponsors and investors seeking opportunities in Qualified Opportunity Zones have sought solutions including:

Qualified Opportunity Fund Sponsors

  • Fund formation and structuring
  • Review and/or assistance with preparation of Qualified Opportunity Zone Business financial projections
  • Compliance and asset management including periodic agreed-upon-procedures for Qualified Opportunity Zone Business investments
  • Perform annual audits, reviews, and compilations of Qualified Opportunity Fund financial statements
  • Tax compliance and reporting
  • Investor asset and income testing

Qualified Opportunity Fund Investors

  • Review of advantages, disadvantages, role in overall tax plans and strategies
  • Assessing eligibility for investment
  • Monitoring and reporting on performance of QOF
  • Federal and State of Kansas tax compliance and reporting
Opportunity Zones Team Leader:

Ryan Scheck

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Contact Us:

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