Soon, individual and corporate taxpayers in Florida and elsewhere in the United States may have the choice of investing their 2018-2025 capital gains in “Qualified Opportunity Funds” rather than paying income taxes currently on such gains. Qualified Opportunity Funds are funds that will focus on investing in designated economically disadvantaged census tracts, called “opportunity zones,” located in Florida and other U.S. states and territories. Governor Rick Scott has recently taken the required step towards the IRS’s major “Opportunity Zone” program taking effect for business and real estate investments in Florida. Gunster tax law attorney Alan Lederman was recently tapped by the Daily Business Review to discuss how Florida taxpayers and businesses will benefit from the new legislation.
Alan Lederman has considerable experience in most aspects of income tax planning and income tax controversies, including those related to international transactions. His clients range from major multinational corporations to local businesses. Lederman is a nationally known author, and his law review articles have been cited frequently by both government agencies and private practitioners.
Read the full article: Florida taxpayers and businesses may benefit from opportunity zones
