• By Community and Economic Development
  • Posted Wednesday, May 1, 2019

New Market Tax Credit and Opportunity Zone Workshop

A workshop on New Market Tax Credit and Opportunity Zone investing will be held May 9 from 9 a.m.-2 p.m. at the Forsyth County Central Library Auditorium, 660 W. 5th St.

The workshop is free, and includes a light lunch, but registration is required by clicking here.

Investing in New Markets Tax Credits

Since 2000, New Market Tax Credit (NMTC) Programs generated investment in low- income communities across all 50 states, the District of Columbia and Puerto Rico. The program raised more than $31 billion in private capital, leveraging about $8 of private capital for every $1 of NMTC. This program stimulates local economies in low-income, distressed communities, and is a proven, cost-effective tool that supports job creation and other community benefits.

Investing in Qualified Opportunity Zones and Funds

Opportunity Zones are transforming the way individuals and companies invest capital gains. The Sherbert Group partners with investors to explain and utilize this once-in-a- generation legislation. In order to receive maximum benefit, investments must be made before Dec. 31, 2019.

Literally, any U.S. taxpayer with capital gains can potentially benefit from this new tax incentive, including:

• Individuals or corporations looking to reinvest gains from sales of property in order to defer and reduce taxes;

• Real estate developers and start-up companies located in an Opportunity Zone that are looking for equity investment, and;

• Real estate sponsors, syndicators and/or private equity funds looking to create Opportunity Funds and then make investments in Qualified Opportunity Zone Property, including investments in corporations, partnerships or direct investments in property.

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