Opportunity Zones Glossary

Qualified Opportunity Zone Business 2018-06-11 08:00:00

Qualified Opportunity Zone Business

A trade or business (i) in which substantially all of the tangible property owned or leased by the entity is Opportunity Zone Business Property, and (ii) which (a) derives at least 50% of its gross income from the active conduct of a trade or business,

 (b) uses a substantial portion of any intangible property in such trade or business, and (c) has less than 5% of its assets invested in nonqualified financial property. Notwithstanding the preceding, a trade or business will not qualify as an Opportunity Zone Business if it is engaged in owning or operating any private or commercial golf course, country club, massage parlor, hot tub facility, suntan facility, racetrack or other facility used for gambling, or any store the principal business of which is the sale of alcoholic beverages for consumption off premises.