My brewery is located in an Opportunity Zone and doesn’t offer consumption onsite. Does that mean it will be excluded from the "sin business" category? What other requirements do I need to fulfill?
The brewery probably qualifies as a business, but you will need to do the right legal structuring to qualify for the tax benefits. This figures to be rather complicated if you don't hold your brewery in a QOZ entity as it stands. You'll need to consult an advisor for the exact methods available to become eligible.
QZone tax benefits do exclude “sin businesses.” I would have to research that definition. But being located in a Zone does not by itself create tax benefits. The tax benefits are for Capital Gain rollovers - deferring the tax on the current gain and if the investment is left in place for 10 years, there is no gain on sale of the QZone business - so just being a brewery there is no Zone-based tax benefits to you.
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