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When investing in a QOF, are the gains also exempt from state and local taxes?


Answers
  • Matthew Rappaport
    August 01, 2021

    Depends on whether the state in question conforms to the Opportunity Zone parts of the Internal Revenue Code. Most notably, California and New York do not. To a certain extent, Massachusetts also does not conform. Consult a qualified advisor in your state for more details on this.

  • David LeGrand
    July 30, 2021

    That would depend on state income tax law. You would have to research the state in which the Qualified Opportunity Zone is located.

  • Maria De Los Angeles Rivera
    August 11, 2021

    It will depend if the state is conforming or has conformed to federal law.

  • Scott McIntosh
    July 30, 2021

    State tax treatment of Opportunity Fund investments varies from state to state.

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