Ask A Question

How can I apply for aid from the federal stimulus package to help my QOZB?

How are those funds taxed?


Answers
  • Matthew Rappaport
    May 07, 2020

    If your QOZB qualifies, you can apply for any federal loan. Being a QOZB does not change anything about eligibility. Taxability depends on the specific federal program.

  • Matt Campbell
    May 06, 2020

    SBA PPP and EIDL are loan programs so this essentially is debt. An existing QOZB can apply for each, but new development would not qualify. The SBA PPP could be forgiven if used for permissible purposes. I think your best hope is if the QOZB already had an existing business. If the business didn't start yet, you are out of luck.

  • DISCLAIMER: 

    the information found on this website is intended to be general information; it is not legal or financial advice. Specific legal or financial advice can only be given by a licensed professional with full knowledge of all the facts and circumstances of your particular situation. You should seek consultation with legal and financial experts prior to participating in any aspect relating to Opportunity Zones. Posting a question on this website does not create an attorney-client relationship. All questions you post will be available to the public; do not include confidential information in your question.