Seminars offered for new federal program

    The Northeastern Colorado Economic Developers (NECO) are holding an Opportunity Zone educational seminar Thursday, Nov. 15, from 3-5 p.m. at Northeastern Junior College in Sterling.
    The event will focus on increasing the awareness and understanding of the OZ program that was created in December 2017 to help encourage capital investments in distressed parts of the country.
    The law firm Snell & Wilmer, headquartered in Phoenix, Arizona, will be presenting information about OZ regulations and how to navigate through the program to ensure investments meet federal guidelines.
    OZs have been created around the country as a way to incentivize investors, through capital gains tax benefits, to invest capital in the particular zones. The program allows investors to invest the capital gains portion of an investment into property, projects or businesses within an OZ to defer capital gains tax liabilities and receive up to a 15-point step up in basis on the original investment. Additionally, the investment made within the OZ can be fully capital gains exempt if the investment is held for at least 10 years.   

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