Opportunity zone - Trucking co - Spidell

Opportunity zone – Trucking co

Log in to Post

Message Board Opportunity zone – Trucking co

  • This topic has 1 reply, 2 voices, and was last updated 1 week, 2 days ago by Mike Giangrande.
Viewing 1 reply thread
  • Author
    Posts
    • #266062
      Anonymous
      Member

      I have a trucking co that wants to operate in an opportunity zone through an opportunity fund.   I am worried about using the assets outside the opportunity zone and the 70% rule.   Is there some exception for mobile companies?  Thanks

    • #266538
      Mike Giangrande
      Participant

      Anonymous,

      You haven’t provided enough information for me to provide an answer to your question, but I can point you to Treasury Regulation section 1.1400Z2(d)-2(d)(4), which discusses the use of property within an opportunity zone.

      Specifically, Treasury Regulation section 1.1400Z2(d)-2(d)(4)(iii) provides a safe harbor for tangible property utilized in rendering services inside and outside of a qualified opportunity zone. You will have to go through the requirements in this regulation to determine if the use of the trucking assets qualifies as use within the opportunity zone.

Viewing 1 reply thread