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How can my limited liability company (LLC) be a Qualified Opportunity Fund?

Does it matter which state it is registered in?


Answers
  • Marko Belej
    July 26, 2022

    In order to become a Qualified Opportunity Fund, an LLC needs to (i) be a regarded entity for tax purposes (i.e., have at least two members or elect to be treated as a corporation), (ii) have a statement in its charter or operating agreement (or preferably both) stating its purpose of investing in qualified opportunity zone property and describing the qualified opportunity zone business in which it is engaged, (iii) meet the applicable 90% asset test on the testing dates and (iv) elect on Form 8996 to be treated as a qualified opportunity fund. The state in which the LLC is registered does not matter.

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