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Tax Attorney

Erik Kodesch

Portland, Oregon

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About Erik Kodesch

Eric Kodesch is a tax attorney. He is a shareholder on Lane Powell PC’s tax team based in Portland, Oregon.

Established in 1875, Lane Powell is among the Pacific Northwest’s oldest law firms. Its team of nearly 200 lawyers serves as strategic business advisors and legal counsel to some of the region’s premier public and private companies. The firm is based in Seattle, Washington, and has offices in Alaska, England and Portland. It employs nearly 200 lawyers.

At Lane Powell, Kodesch counsels clients on a variety of federal, state and local tax issues. He handles both transactional and litigation matters, including general business planning, structuring investments to obtain Opportunity Zone benefits, financial transactions, trust taxation, executive compensation and choice of entity issues. Statewide and locally, Kodesch helps clients obtain tax incentives, such as property tax exemptions for new investments.

Kodesch regularly represents clients in the Oregon Tax Court in controversies involving state corporation excise tax and property tax.

Before joining Lane Powell in 2018, Kodesch was a partner at Stoel Rives LLP. He also worked as an associate for Katten Muchin Rosenman LLP.

Kodesch is a graduate of Columbia Law School. He has a bachelor’s degree in history from George Washington University.

Company

Lane Powell

Address

601 SW Second Ave, Portland

TOTAL ANSWERS

92

Answers to Opportunity Zones

92 Questions Answered

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

11 Members Answered

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

14 Members Answered

Could Opportunity Zones get additional reporting requirements in the future?

14 Members Answered

How does leased property used by a QOZB get treated?

11 Members Answered

How do carried interests qualify for Opportunity Zone tax benefits?

12 Members Answered

What happens if I invest in a QOF, but they don’t deploy my funds before the testing period?

16 Members Answered

How do I qualify as an Opportunity Zone business?

8 Members Answered

How and when can I take advantage of owning a commercial property in an Opportunity Zone?

14 Members Answered

Does Puerto Rico benefit from the Opportunity Zone program in the same way that other Qualified Opportunity Zone census tracts in the U.S. do?

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

13 Members Answered

Do residents of non-conforming states receive the OZ benefits if they invest in an Opportunity Zone project in a state that conforms with the federal OZ regulations?

9 Members Answered

How strict are the rules on a property having been vacant for the purposes of defining it as an "Original Use Property”?

10 Members Answered

How can I document that I originally planned to make land improvements?

9 Members Answered

Can the owners of a QOF have their spouses as its members and invest in residential real property in the zone, then lease it to its members for their personal use?

11 Members Answered

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

20 Members Answered

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

14 Members Answered

Could a QOZ have its status revoked in the future?

15 Members Answered

How is the Custody Rule important when it comes to Opportunity Zone investments?

3 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

Who is eligible for the benefits of Opportunity Zone investments?

11 Members Answered

Are there any benefits to delaying the date at which I establish a QOF? 

12 Members Answered

What’s the best way to value a QOF’s leased property?

7 Members Answered

Is there flexibility on the 31-month safe harbor rule?

11 Members Answered

Can you contribute a note payable instead of cash to an QOF?

8 Members Answered

What happens to the tax benefits of an Opportunity Zone fund if its original owner dies?

9 Members Answered

How do I create an Opportunity Zone fund?

11 Members Answered

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

10 Members Answered

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

13 Members Answered

Can a QOZB rent property to a person or entity engaged in a sin business on the premises?

6 Members Answered

What's the best structure to set up a single investor single asset QOF to purchase a residential investment property?

11 Members Answered

What happens if I don’t get my money invested in actual OZ projects by Dec. 31 this year?

13 Members Answered

What happens if an operating business I’ve invested in gets bought out?

9 Members Answered

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

17 Members Answered

What happens if a QOF sells QOZ property right before the 90% testing date?

3 Members Answered

How can investor transfer funds from one QOZF to another?

3 Members Answered

Can I transfer ownership of my OZ investment to a relative?

11 Members Answered

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

8 Members Answered

What happens if an entity fails to meet the requirements as an QOZB?

7 Members Answered

How worried should I be about the penalties for failing to maintain QOZ assets?

6 Members Answered

What kinds of OZ investment transfers don’t qualify as inclusion events?

8 Members Answered

What is defined as “unrelated party” when it comes to selling or acquiring OZ property?

8 Members Answered

How strict is the “sin list” rule?

9 Members Answered

Can a QOF itself invest in another QOF?

14 Members Answered

Can I use capital from a QOZ sale for other purposes?

7 Members Answered

What happens if a taxpayer transfers the QOF interest into a grantor trust and the trust later loses its status?

7 Members Answered

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

13 Members Answered

How can QOFs prove that they meet the 90 % Substantially All test?

10 Members Answered

What does it mean for investors that the OZ designation was partly based on old census data?

7 Members Answered

Is the growing education technology market suitable for the OZ industry?

7 Members Answered

Is there any way for a current business located in a OZ to transfer assets in-kind (via taxable sale) to a QOF in exchange for an interest, while also getting deferral on the gain from that sale?

9 Members Answered

How can a QOF investing in operating businesses know for sure that the business is a qualified OZ operation?

11 Members Answered

When using appreciated property to fund the QOF, what basis rules come into play?

7 Members Answered

How can a lessee be deemed the “original user” of a property?

6 Members Answered

Why can most QOF only accept deferred gain prior to Jan. 1, 2027?

12 Members Answered

How are penalties calculated if a QOF fails to meet the 90% Substantially All test?

11 Members Answered

How can I get an extension to the 31-month period for my working capital plan for my QOF?

10 Members Answered

How do we determine if the QOF meet the 90% test?

5 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

Under what circumstances can a property owner contribute a property to a QOF or QOZB in exchange for equity?

7 Members Answered

What happens if I don’t have enough distributable cash flow to pay my taxes in 2026?

11 Members Answered

What happens if only parts of my real estate property is inside the OZ?

9 Members Answered

Why are certain businesses excluded from taking advantage of the OZ program?

10 Members Answered

Since QOFs can self-certify, how can investors check that they are complying with the regulations?

10 Members Answered

How is “active trade or business” defined for a QOF subsidiary to qualify as a QOZB?

6 Members Answered

What data was used to identify eligible tracts for the OZ program?

12 Members Answered

What happens if a lease is between related parties in an OZ transaction?

10 Members Answered

Is it safe to invest in the cannabis industry when it comes to OZs?

5 Members Answered

Could it be an oversight that will be rectified by lawmakers that the cannabis industry was not part of the so-called "sin" businesses?

8 Members Answered

Could new Opportunity Zones be created in response to help communities after natural disasters?

8 Members Answered

Has there been a shift in where OZ investors chose to invest their funds?

9 Members Answered

Why do I need to provide an organizational chart of the seller of the property, which includes all direct and indirect owners, when reviewing the 70% requirement?

7 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

Why shouldn’t my QOZB make a loan to another with a term of more than 18 months?

6 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

Can a golf course be an exemption to the sin business list if it is open to the public and operated in conjunction with a hotel?

6 Members Answered

How can art collectors benefit from Opportunity Zones?

10 Members Answered

What can we expect from the EPA’s request to the IRS for clearer OZ regulations?

3 Members Answered

What types of real estate renovation projects qualify for the OZ program?

6 Members Answered

What happens if I formed my QOF prior to June 30 but haven’t invested at least 90% into a QOZBP?

7 Members Answered

How can I transfer a property, which I co-own with my colleague, into a QOF?

5 Members Answered

What happens if a QOF or business has generated ordinary income from the sale of depreciated personal property at the time of exiting after 10 years?

5 Members Answered

What is involved in the process of creating an OZ fund and how long does it take?

5 Members Answered

How can I invest in a completed hotel in an OZ for best tax benefit?

8 Members Answered

What are some strategies communities can do to attract OZ funds?

5 Members Answered

What needs to be written into a purchase agreement when selling a property where the gains may be rolled into a QOF?

6 Members Answered

How and when is it most financially sound to move my business into an OZ?

3 Members Answered

Why is it more beneficial for an operating business to be owned by a QOZB rather than a QOF?

7 Members Answered

Why do I need to invest by Dec. 31, 2019, to get the full OZ benefit?

8 Members Answered

If I sold property this year as a shareholder of an S corp, how do I best take advantage of the OZ program?

6 Members Answered

When can we expect the third round of OZ regs to be released?

6 Members Answered

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