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Opportunity Zones

Spurring economic development and job creation in distressed communities

Opportunity Zones in Oklahoma are economically distressed areas that have been nominated for the designation by the state and certified by the Secretary of the U.S. Treasury. Under certain conditions, new investments within these certified zones may be eligible for preferential tax treatment.

While qualifying a business property investment in an opportunity zone for preferential tax treatment requires that you follow current Internal Revenue Service requirements, we’ve put together some basic Opportunity Zone FAQs to get you started.

If you’d like to pursue investing in an Opportunity Zone, give us a call at 405.842.0100 (Oklahoma City Metro Area) or 918.935.2010 (Tulsa Metro Area).

Oklahoma Opportunity Zone FAQs

• How can I find a property within a Qualified Opportunity Zone?
  Our brokers can help you find properties that may or may not be currently listed for sale that would meet your stated requirements or you can use the Oklahoma Department of Commerce’s Opportunity Zone Map or The Alliance's Oklahoma City Opportunity Zone Maps.
• What do I need to know before I purchase a property in a Qualified Opportunity Zone?
  For a property investment in a Qualified Opportunity Zone to begin to qualify for preferential tax treatment, the investment must be made by a Qualified Opportunity Fund (QOF). A QOF is a partnership or corporation that is organized for the purpose of investing in Qualified Opportunity Zone property and has self-certifies via its federal income tax return..
• Can the property have been purchased at any time? How do I determine when the property’s original use was established?
  The business property must be acquired by the QOF after December 31, 2017 and either the property’s original use must have started with the Qualified Opportunity Fund (QOF) investment or the QOF must have substantially improved the business property to a new use as defined by the Tax Cuts and Jobs Act of 2017.
• How does business activities impact eligibility for preferential tax treatment?
  To be eligible for preferential tax treatment, the business property must be located within the Qualified Opportunity Zone and must earn a minimum of 50 percent of its gross income from business activities within the same zone.
• Are there opportunities for individuals to receive preferential tax treatment without establishing a Qualified Opportunity Fund (QOF)?
  Yes. Investors must invest in a Qualified Opportunity Fund to participate. According to the IRS website, "investors may be able to defer tax on almost all capital gains they invest after December 31, 2017, through December 31, 2026... To qualify for deferral:

  • capital gains must be invested in a qualified opportunity fund (QOF) within 180 days
  • the fund must hold at least 90 percent of its assets in qualified opportunity zone property
  • investment in the QOF must be an equity interest, not a debt interest" - irs.gov