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How can relocating my business to an OZ qualify it to benefit from the OZ tax incentive?

I run a small business startup in the tech space in California. Our office is not currently located in an OZ, however, an opportunity to relocate our business to an office in an OZ has presented itself. How do we structure the relocation to be compliant with the OZ regulations? We are in the process of establishing a new C corp for the potentially newly relocated company. Would capital gains invested in the new C corp qualify for the OZ tax incentives and are there any requirements for the growth of the new company that must be met, for example an increase in the size of the company once relocated from the current location to the new location?

  • Matthew Rappaport
    January 08, 2020

    Relocations generally qualify for the OZ program because the property relocated will generally meet the requirements set forth under the statute to qualify as a qualified OZ business project. Other than that, your C-Corp would need to self-certify as a QOF and meet the other compliance requirements.


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