Stephen Tibbitts CEO of ZEVA, Inc meets with Congressman Derek Kilmer to discuss Opportunity Zones in the South Puget Sound region.
Congressman Kilmer organized a regional meeting to discuss various aspects of the Opportunity Zone tax incentives. The bill amends the Internal Revenue Code to authorize the designation of “opportunity zones” in low-income communities and to provide tax incentives for investments in the zones, including deferring the recognition of capital gains that are reinvested in the zones.
How does this effect ZEVA? ZEVA operates in an opportunity zone, so it is possible to structure our deal so our investors can defer capital gains taxes if they invest in ZEVA. Stay tuned for future status updates regarding these investments.