What does it take for leased tangible property to be considered qualified opportunity zone business property?
The specifics are set forth in the regulations, but the basic gist is that leased property can't circumvent the original use or substantial improvement requirements and can't be used as a device to get impermissible benefits. For instance, any lease has to be at fair market value and can't involve pre-payments; these controls are in place to make sure that you don't funnel tax-deferred money from the QOZB to your own pocket.
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