Florida SBDC Opportunity Zone Workshops
Join local leaders, developers, investors, and aspiring and existing small business owners to learn about a new, exciting investment tool: Opportunity Zones.
What are Opportunity Zones?
Created by the 2017 Tax Cuts and Jobs Act, Opportunity Zones are an important economic development tool that allows investors to receive tax relief when they put money into qualified projects in certain designated, economically distressed areas. There are 427 designated Opportunity Zones in Florida designed to stimulate business investment and spur economic development. The benefits of these investments are supercharged by the favorable tax treatment of capital gains.
What are the investment benefits?
- A temporary tax deferral on any prior gains invested in a Qualified Opportunity Fund (QOF). The gain must be recognized on the earlier of the date on which the investment in a QOF is sold or exchanged, or December 31, 2026.
- A step-up in basis for capital gains reinvested in an Opportunity Fund. The basis of the original investment is increased by 10% if the investment in the qualified opportunity zone fund is held by the taxpayer for at least 5 years, and by an additional 5% if held for at least 7 years, excluding up to 15% of the original gain from taxation.
- A permanent exclusion from taxable income of capital gains from the sale or exchange of an investment in a qualified opportunity zone fund, if the investment is held for at least 10 years. (Note: this exclusion applies to the gains accrued from an investment in an Opportunity Fund, not the original gains).
See source here.
About the Workshops
The Florida SBDC Network, in partnership with Madison Street Strategies, is hosting workshops across the state to help aspiring and existing business owners and investors learn how to leverage and benefit from this new investment program. Expert panelists and presenters will take a deep dive into what Opportunity Zones are, the tax benefits, eligibility requirements, available resources, and more.
Agenda at a Glance
- Opportunity Zones 101
- Opportunity Funds: Creation & Investment
- Federal Resources in Opportunity Zones
- Local Resources & Opportunities
- December 10, 2020 | 1:00 – 5:00 pm
Florida SBDC at Florida A&M University, Tallahassee and surrounding areas
- November 19, 2020 | 1:00 – 5:00 p.m.
Florida SBDC at Indian River State College, Ft. Pierce and surrounding areas
- November 9, 2020 | 1:00 – 5:00 pm
Florida SBDC at University of South Florida, Tampa and surrounding areas
- October 29, 2020 | 1:00 – 5:00 pm
Florida SBDC at the University of North Florida, Jacksonville and surrounding areas
- October 6, 2020 | 1:00 – 4:00 pm
Florida SBDC at Florida International University, South Miami-Dade and Florida Keys areas
- September 17, 2020 | 1:00 – 5:00 pm
Florida SBDC at the University of Central Florida, Orlando and surrounding areas
- August 26, 2020 | 1:00 – 5:00 pm
Florida SBDC at the University of West Florida, Pensacola and surrounding areas
- August 4, 2020 | 1:00 – 5:00 pm (EST)
Florida SBDC at Florida Atlantic University, Broward and Palm Beach Counties
- June 16, 2020 | 10:00 am – 2:00 pm
Florida SBDC at Florida Gulf Coast University, Fort Myers and surrounding areas
No cost to attend. (Pre-registration required.)
Where can I learn more about Opportunity Zones?
Want to learn more about Opportunity Zones? Click here to watch this video.
Find answers to frequently asked questions about Opportunity Zones here.
See a diagram of the 427 Opportunity Zones in Florida here.