Yes, but some technical issues remain.
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Could Opportunity Zone businesses have operations in multiple Opportunity Zones?
I have a business that has a home-based clerical workforce working as contractors spread throughout the country, with the majority of the contractors living and working in homes in Opportunity Zones. If I were to reincorporate or relocate my business to an Opportunity Zone and employ contractors working in separate Opportunity Zones, would that comply with the regulations to receive the maximum tax benefits?
Answers
This is an absolute yes. Just conform to all the rules that would apply as though you had the business in just one Opportunity Zone.
The short answer is yes. The asset test and income test relate to operations in Opportunity Zones. Operating in multiple zones should not disqualify your business from meeting the relevant tests to qualify as a qualified Opportunity Zone business.
Yes, it is possible for a QOZB to have operations in multiple Opportunity Zones. You could reincorporate or relocate your business to an Opportunity Zone and employ contractors working in separate Opportunity Zones.
I'm not sure. There are a multitude of ways to meeting the 50 percent gross assets test, and I don't know that working in multiple zones is a problem, but this is worth a chat with a lawyer.
You need to perform the different tests as to gross income and use of the property. The rules are for income and use in a zone, so I tend to agree on that if in different zones it qualifies. Still researching.
Yes, not advisable. Probably better to separate it out.
This sounds like it works, provided the headquarters is in an Opportunity Zone.
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