In August 2020, Congress established a new opportunity zone for real estate investors and business owners with the designation of Hemp Opportunity Zones. As with other opportunity zones, these come with significant, long-term tax advantages to the investor.
This new type of opportunity zone could be an additional way for investors to benefit from tax advantages while gaining access to a budding industry. Learn what an Hemp Opportunity Zone is and the opportunity for investors in this market.
Opportunity zones, explained
An opportunity zone is intended to attract capital to low-income or undercapitalized areas of the United States as identified in the 2017 Tax Cuts and Job Act. Metrics such as the poverty rate and median income are used to classify census tracts as areas in need of economic stimulus.
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