By Stephen J. Golder of Jenkins Fenstermaker, PLLC posted in Business on Thursday, July 11, 2019.
A drive through Charleston, West Virginia (WV) reveals the investments that are being made to grow business and enhance the local community. Savvy developers and investors who seek to capitalize on and lend to the city's progress now have an additional incentive in the form of tax benefits when efforts are focused in designated Charleston, WV Opportunity Zones.This article is the third in a series of four on the topic of Opportunity Zones in WV. An overview of Opportunity Zone basics was provided in the first blog of the series, while article two focused on development opportunities in Huntington, WV.
By Stephen J. Golder of Jenkins Fenstermaker, PLLC posted in Business on Thursday, May 9, 2019.
One of the most innovative provisions of the Tax Cuts and Jobs Act (Public Law 115-97) is the creation of Qualified Opportunity Zones (Opportunity Zones or QOZ) and Qualified Opportunity Zone Funds (Opportunity Zone Funds or QOF) in all 50 states. Together, the Opportunity Zones and Opportunity Zone Funds function to encourage economic development and create jobs in distressed areas, both in rural and low-income urban communities. West Virginia Opportunity Zones and Opportunity Zone Funds provide tax advantages based on investment in the economic development of designated areas in the Mountain State.