Tax Incentives Available in Tennessee Qualified Opportunity Zones
Tennessee is home to 176 areas that are certified as “qualified opportunity zones” under The Tax Cuts & Jobs Act of 2017. Carter, Hawkins, Sullivan and Washington Counties all include state census tracts that qualify for “opportunity funds” offering federal tax incentives to investors who finance projects in designated low income areas.
Associate attorney Sarah Valk recently participated in a local forum, along with several other interested parties, at which opportunity zones were discussed. The members of the firm’s corporate and business team are available to assist clients in understanding the rules and regulations associated with these community investments that provide opportunities to investors while fostering economic and community development. Qualifying projects include but are not limited to retail, commercial and tourism development, as well as low income housing.
If you would like to learn more about these opportunity zones, contact Sarah Valk or a member of the Corporate and Business Team. Sarah is a native of Kingsport and earned her law degree in 2016 from the University of Tennessee College of Law.