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Attorney

David LeGrand

Las Vegas, NV

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About David LeGrand

David LeGrand is a corporate and securities attorney. He is a solo attorney with his own firm, LeGrand Legal, based in Las Vegas, Nevada.

LeGrand Legal focuses on corporate and real estate finance, with an emphasis on private placements of securities to fund projects and companies. LeGrand has extensive knowledge of real estate transactions, corporate development and brand creation.

Prior to starting his own practice, LeGrand worked at other Las Vegas firms. He also was an enforcement attorney and counsel for the securities division for the state of Ohio. He also served as an assistant county prosecutor attached to the financial crimes section in Franklin County.

LeGrand is the former counsel to Buster Douglas, the heavyweight boxing champion, and pop star Michael Jackson. He is admitted to practice in the U.S. Tax Court, the U.S. District Court for the Southern District of Ohio, and in the states of Ohio and Nevada.

LeGrand has a bachelor’s degree in philosophy and psychology from Duke University. He also has a J.D. from The Ohio State University.

Company

LeGrand Legal

Address

3900 S. Hualapai Way, Las Vegas

TOTAL ANSWERS

137

Answers to Opportunity Zones

137 Questions Answered

If a freelancer or solopreneur starts an online business, forms an LLC and locates it in a co-working space in an Opportunity Zone, how can this qualify as an Opportunity Zone business?

5 Members Answered

Could Opportunity Zones get additional reporting requirements in the future?

14 Members Answered

How do carried interests qualify for Opportunity Zone tax benefits?

12 Members Answered

If a vacant building located in an Opportunity Zone was purchased in November 2017 for future adaptive re-use development, can it still qualify under the existing purchasing LLC?

5 Members Answered

How can a Qualified Opportunity Fund have multiple tiers of structures?

11 Members Answered

How can I combine OZ investments with EB-5 benefits?

8 Members Answered

What is the basis for a ground-up development project in an OZ?

5 Members Answered

What transactions may trigger the inclusion of deferred gains, sales, exchanges, and other transfers in an OZ deal?

4 Members Answered

How do we find qualified investors for our agricultural fund in an OZ?

2 Members Answered

What are the rules regarding what can be in a Qualified Opportunity Fund?

14 Members Answered

What is the best deal structure for a tribal OZ fund on Native American land?

5 Members Answered

When I transfer property to a QOF, does my holding period of the property also transfer to my QOF eligible investment?

2 Members Answered

Are there any special regulations when investing in tech companies in OZs?

5 Members Answered

How does one value a lease for purposes of the 70% test or the 90% test?

2 Members Answered

What is a reasonable reinvestment period for a Qualified Opportunity Fund?

6 Members Answered

Are there any special regulations when investing in tech companies in OZs?

5 Members Answered

What is the definition of “original use” for both real and tangible property?

5 Members Answered

How important is it to go with a fund that has a formal opinion issued in connection with their Qualified Opportunity Fund?

13 Members Answered

What is the best deal structure for a tribal OZ fund on Native American land?

5 Members Answered

Are there classes of Opportunity Zones?

11 Members Answered

What types of gain can be deferred through investment in a QOF?

11 Members Answered

If my primary residence is located in an Opportunity Zone, is there any way that I can take advantage of the OZ program?

14 Members Answered

Is there a way to structure a QOF so that it can accept non-qualified OZ investment funds in tandem with qualified investments, then pay out the benefit to the non-qualified investors?

15 Members Answered

How can tribal governments benefit from Opportunity Zones?

4 Members Answered

What if a taxpayer makes an equity investment in a QOF by contributing property in a nonrecognition transaction?

12 Members Answered

Regarding recycling of distributed capital, what are the rules on investors redeploying cash distributed from one fund into another without recognizing the gain?

6 Members Answered

How does one determine the election of the capital gains deferral effect on whether the gain qualifies as short-term or long-term capital gains?

11 Members Answered

What are the rules on deployment of funds into an OZ business and what expenses are allowed?

5 Members Answered

What factors should be taken into consideration when selecting between 1031 Exchanges and the Opportunity Zone tax incentive?

10 Members Answered

How can cities best take advantage of the Opportunity Zone program?

8 Members Answered

How can property qualify as QOZP in a QOF?

8 Members Answered

Who is eligible for the benefits of Opportunity Zone investments?

11 Members Answered

How can I elect to defer tax on a gain if I have already filed my tax return?

20 Members Answered

How will it impact me if I invest the same amount in an OZ-conforming state compared to a non-conforming state?

8 Members Answered

If we set aside a reserve to pay the 2026 capital gains tax liability, is that taxable?

13 Members Answered

Would I qualify as a QOZB if I lease equipment in Opportunity Zones and my company headquarters is in an OZ?

2 Members Answered

How do the new Opportunity Zone regulations treat substantial improvements?

6 Members Answered

What is the waiting period on actual gain from this year?

14 Members Answered

How does a service business satisfy the 50% revenue test?

6 Members Answered

How do I create an Opportunity Zone fund?

11 Members Answered

Can any source of capital be used to invest in a QOF or is it only capital gains that are eligible for the tax advantages?

4 Members Answered

Are there any Opportunity Zones in the Virgin Islands or other U.S. territories?

10 Members Answered

How much of a rush should I be in to invest in an OZ?

17 Members Answered

Since the working capital safe harbor applies to QOZ businesses, why can’t a fund also be a trade or business?

16 Members Answered

How likely is it that the OZ regulation will get extended instead of sunsetting on Dec. 31, 2047?

13 Members Answered

I’ve heard that investing in self-storage in OZs might be “recession resistant.” Why?

3 Members Answered

How can a QOF sell assets?

4 Members Answered

What risks could family office investors face in an OZ investment?

2 Members Answered

What happens if my LLC is not able to dispose my capital asset to make a cash investment in a QOF within 180 days?

8 Members Answered

What happens with the gain recognized on the sale of a capital asset in states not conforming with the OZ rules?

7 Members Answered

How can art collectors benefit from Opportunity Zones?

10 Members Answered

How can the operation of a rental property qualify as an active conduct of a trade or business in an OZ?

6 Members Answered

Why were reporting requirements to evaluate the OZ program removed in the second round of regulations?

2 Members Answered

What kind of entity is best when creating a personal or syndicated QOF?

4 Members Answered

How can I combine an EB-5 project with the OZ incentive?

6 Members Answered

Does my business qualify as a QOZB if it is conducted in a property located in an OZ?

4 Members Answered

What is the process for investing in a charter school in an OZ?

3 Members Answered

What are my risks with investing in a QOF?

5 Members Answered

Why is it beneficial for a QOF to have subscription agreements and corporate consents?

4 Members Answered

How can fund sponsors raise OZ capital outside the U.S.?

4 Members Answered

How can my existing business, which was operating within an OZ prior to 2018, benefit from the OZ initiative?

4 Members Answered

What should be included in a Private Placement Memorandum for a QOF?

4 Members Answered

After the 10-year holding period, what happens if all investors want to exit at the same time?

5 Members Answered

Would a manufacturer in an OZ who sells its products nationwide count as a QOZB?

3 Members Answered

Can the government create new OZs to help revitalize areas hit hard by COVID-19?

4 Members Answered

Could the OZ legislation change if a democrat president is elected in the fall?

6 Members Answered

What does the new IRS relief notice say about the ability to modify Working Capital Plans that were created prior to the COVID-19 crisis?

2 Members Answered

In terms of the equity raise, at what point does a PPM have to be drafted?

3 Members Answered

How can I retroactively defer declared capital gains and invest in a QOF after I filed my taxes?

6 Members Answered

Can a nonprofit create a QOF for the down payment of their facility to take advantage of the OZ tax incentive?

2 Members Answered

How can an OZ investor contribute other property, in addition to cash, in exchange for an eligible interest in a QOF?

4 Members Answered

What is the process for debt or equity offerings for a business located in an OZ?

4 Members Answered

When investing in a QOF, are the gains also exempt from state and local taxes?

4 Members Answered

How can my QOF qualify for an exclusion from regulation under the Investment Company Act?

1 Members Answered

How can foreign nationals take advantage of the OZ incentive by investing capital gains?

2 Members Answered

How can my C corporation get certified as a QOF?

4 Members Answered

How can I combine artificial intelligence and blockchain technology while investing in Opportunity Zones?

3 Members Answered

How can I make a QOZ investment in a brownfield site?

3 Members Answered

How can I get my business’ inventory to qualify as QOZ business property?

2 Members Answered

How can I as an investor of collectibles take advantage of the Opportunity Zone program?

2 Members Answered

How much capital gain can be deferred in a Qualified Opportunity Fund?

6 Members Answered

How can I as a non-resident alien defer capital gains into a QOF?

2 Members Answered

How can I invest in a Qualified Opportunity Fund using cryptocurrency?

2 Members Answered

What are the steps to create my own Qualified Opportunity Fund to help raise funds for my development in an OZ?

1 Members Answered

How can foreign investors benefit from the opportunity zone incentive?

2 Members Answered

How can I combine PACE financing and the Opportunity Zone incentive?

1 Members Answered

What happens if I invest into a QOF that invests into a QOZB that fails to qualify as a QOZB?

3 Members Answered

How do I handle my gains if I am a partner in a partnership that generated capital gains?

3 Members Answered

How can my Community Development Finance Institution (CDFI) benefit from Opportunity Zones and receive equity investments as QOZBs?

1 Members Answered

What is Qualified Opportunity Zone property and what are the requirements to get qualified?

1 Members Answered

Does QOFs have a minimum investment or is that up to each fund?

2 Members Answered

How does secondary sales work for a partner who needs to divest before the end of the 10-year holding period?

3 Members Answered

How can I use money earned from crypto currency to invest in a QOF to defer paying taxes?

3 Members Answered

How can my property become eligible as a Qualified Opportunity Zone Property?

1 Members Answered

How can municipalities best attract investors to rural Opportunity Zones?

3 Members Answered

Why can’t I invest non-capital gains into an opportunity zone?

4 Members Answered

How can I as a non-accredited investor take advantage of Opportunity Zones by investing smaller capital gains?

1 Members Answered

How can I create a QOF to purchase new single family constructions in an Opportunity Zone?

3 Members Answered

How can I transfer my limited liability company to become a Qualified Opportunity Fund?

3 Members Answered

How can I combine cryptocurrency mining while taking advantage of the Opportunity Zone tax incentive?

4 Members Answered

What are the main differences between REITs and QOFs?

3 Members Answered

How can my machinery count as qualifying assets in my QOF if they are not located in the Opportunity Zone?

4 Members Answered

How can I create a Qualified Opportunity Fund and give as an investment holiday gift to my grandchild?

3 Members Answered

How can I invest in Opportunity Zones using crowdfunding?

2 Members Answered

How can I transfer non-cash property as an investment to a QOF?

4 Members Answered

How can I find out what census tract number a specific address have so I can see if its in an Opportunity Zone?

3 Members Answered

How do we perform a due diligence process for Qualified Opportunity Funds?

3 Members Answered

Are there still states that do not conform to the federal Opportunity Zone program?

3 Members Answered

How do Opportunity Zone investments compare with a 1031 exchange?

3 Members Answered

How can Opportunity Zone investing help with the housing crises?

4 Members Answered

How can I make my brewery into a Qualified Opportunity Zone Business?

2 Members Answered

How can I create a joint venture as a QOF for my project?

3 Members Answered

How is debt financing done in Opportunity Zones?

4 Members Answered

What do I need to be able to invest in wind energy while taking advantage of the Opportunity Zone tax incentive?

1 Members Answered

How will SEC’s vote to advance new corporate disclosure requirements on climate change impact Opportunity Zone investments?

2 Members Answered

How can I create a selfstorage business as a Qualified Opportunity Fund or QOZB? What are the requirements?

1 Members Answered

How will the Opportunity Zones Transparency, Extension and Improvement Act impact my Opportunity Zone investments if it passes?

1 Members Answered

Can I buy a property in an Opportunity Zone with my 1031 and only get the tax benefit of the 1031 exchange?

3 Members Answered

How does the gain exclusion on appreciation in Opportunity Zones work?

4 Members Answered

With the FY 2022 national median income set at $90,000, will the Opportunity Zone locations be impacted?

5 Members Answered

How can I create a Qualified Opportunity Fund to benefit when rebuilding my single family property in an Opportunity Zone?

3 Members Answered

Since two of the four Opportunity Zone tax incentives have expired, is there any movement on extending the 2026 deadline to keep the zones going?

4 Members Answered

Does a company have any restrictions on the purchase because it is in an Opportunity Zone?

1 Members Answered

With New Jersey’s legalization of recreational marijuana, how will that impact a cannabis business in an Opportunity Zone?

2 Members Answered

What is the deal with reinvested capital gains in an Opportunity Zone, is it double taxed?

4 Members Answered

How can I invest in a Qualified Opportunity Fund using my capital gains from cryptocurrency?

5 Members Answered

How can I create a crowdfunded Qualified Opportunity Fund?

3 Members Answered

How should I best evaluate a medical office building development in an Opportunity Zone?

2 Members Answered

Would I have to pay capital gains on a investment property before transferring the gains into an OZ Fund?

2 Members Answered

What happens if a QOF fails and there is no reasonable cause?

3 Members Answered

Is it better to structure an Opportunity Zone Fund as an LLC or a REIT?

3 Members Answered

How does the Opportunity Zone program work with short-term capital gains?

3 Members Answered

How do Opportunity Zone funds pay dividends to their investors?

2 Members Answered

How can an investor invest directly into an Opportunity Zone business to qualify for associated tax incentives?

6 Members Answered

How can California be a top state for Opportunity Zone investment if it’s a non-conforming state to the OZ incentive?

4 Members Answered

How can I create a Qualified Opportunity Fund for my development if I am located in a state that doesn’t conform to the OZ program?

3 Members Answered

How can I permanently exclude gains investing in an Opportunity Zone?

4 Members Answered

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