The existing raw can qualify.
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How can I benefit from the OZ tax incentive If I already own land in an OZ?
What can I do to my properties and business to take advantage of them being located in an OZ?
Answers
For real estate, you can master lease it to a QOZB for development. For businesses, you can relocate to a different QOZ, or you could discard all your tangible property and buy or lease other tangible property as a replacement. The strategies are more complicated than that, but those are your basic options.
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