What criteria does my business need to fulfill to be considered a start-up and are there certain industries that are excluded?
The regulations do not provide a definition of the term "start-up business." Note that the regulations use the term only once (and twice in section headings). There are also five uses of terms "start-up of a business" or "start-up for a business." So it doesn't appear to be limited to, or excluded from, any particular industries. It appears that the plain meaning, dictionary definition should apply: "the action or process of setting up a business."
There is nothing in the Opportunity Zone laws that mandates your business be a start-up. It merely needs to be a Section 162 trade or business that is not a sin business.
The term startup is not defined in the code nor in the regulations.
DISCLAIMER:the information found on this website is intended to be general information; it is not legal or financial advice. Specific legal or financial advice can only be given by a licensed professional with full knowledge of all the facts and circumstances of your particular situation. You should seek consultation with legal and financial experts prior to participating in any aspect relating to Opportunity Zones. Posting a question on this website does not create an attorney-client relationship. All questions you post will be available to the public; do not include confidential information in your question.