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What You Need to Know About Qualified Opportunity Funds (QOF)
In order to take advantage of the Opportunity Zone tax benefits, all funds are required to be held in an account specially established...
Phillipsburg and Easton Real Estate provide benefits from the Opportunity Zones tax incentives and a story of growth fueled by the location of natural resources. It combines cultural, historical, natural, and economic development. The fundamentals are sound with the added services of a cooperative state, county, and local government; the package is complete.
Each designated Opportunity Zone has a "hook" used to attract investors. Shopping, transportation, and medical services account for many areas. One issue is long-term sustainability, considering the migration of households in and out of metropolitan areas. Eco-Tourism is sustainable over time. History and the ability for residents and visitors to take advantage of our surroundings will always be in demand. Issued construction and repair permits are trending over the last 10 months as more people are discovering the same model created between Lambertville, NJ, and New Hope, PA. A partnership with tourism as a funding source. Easton has already accomplished many goals, with Phillipsburg ready to follow the great work across the river.
New businesses are moving ahead with the recent expansion of the Invertase Brewing Company and many other organizations relocating in town. Walking traffic to the train excursion by the Delaware River Railroad Excursions in winter, spring, summer, or fall, there are events for the whole family. All destination businesses.
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Reinvested capital gains are deferred from taxation until exit from a Qualified Opportunity Fund or December 31, 2026, whichever comes first. However, the original gains reinvested in Qualified Opportunity Fund investments held for the long term are taxed at reduced rates, with taxable gains discounted by 10% at the 5-year mark and by an additional 5% discount at the 7-year mark. Any new gains from Qualified Opportunity Fund investments held for at least 10 years will be permanently excluded from the capital gains tax.
Not every Opportunity Zone is able to provide the growth necessary to create a sustainable environment. Phillipsburg and Easton are uniquely situated for community development driving economic growth.
Phillipsburg, New Jersey offers substantial returns that require improvements equal to the Opportunity Zone Fund’s initial investment into the existing property over a 30-month period.
Economies are improving by bringing visitors to the Lehigh Valley supporting Eco-tourism in Phillipsburg and local attractions. New businesses continue to open combined with refurbished apartments.
Phillipsburg and Easton town government are excited to be part of the economic development, able to provide permitting, code and marketing for your project.
Lehigh Valley represents one of the largest economic development opportunities in the nation. Phillipsburg, New Jersey remains one of the few Opportunity Zones where the cost of real estate has not been inflated compared to local regions with Easton, Pennsylvania only 400 feet across the Delaware River.