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How is the term ‘substantially all’ defined when it comes to a QOZB’s tangible property and how it is used in an OZ?

How is the term ‘substantially all’ defined when it comes to a QOZB’s tangible property and how it is used in an OZ?


Answers
  • Valerie Grunduski
    November 16, 2020

    The final regulations define substantially all as 70% or more.

  • Matthew Rappaport
    November 16, 2020

    I should also add that the amount of time the property qualifies as QOZBP is 90%.

  • Matthew Rappaport
    November 16, 2020

    It's defined as 70% under the regulations.

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