How does “Opportunity Virginia,” an OZ initiative announced by Virginia Gov. Ralph Northam, leverage the federal OZ initiative?
This is another example of a state trying to attract OZ investment dollars through further incentives at the state and local level. We've also seen this with Ohio. When investors are considering where to invest in OZ projects, Virginia, Ohio and other states enacting their own incentives may get a leg up.
You receive the additional deferral and exclusion for state income tax purposes.
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