It's defined as 70% under the regulations.
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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?
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I should also add that the amount of time the property qualifies as QOZBP is 90%.
The final regulations define substantially all as 70% or more.
It is defined as 70% of all property and that is used in the zone at least 90% of the holding period.
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