Qualified opportunity zone projects have ‘up to’ 24 more months due to COVID-19March 19, 2020 – Article
Greenberg Glusker Partner Michael Wiener and KFB Law Group, LLP associate Andrew Gradman published "Qualified opportunity zone projects have ‘up to’ 24 more months due to COVID-19" in the Daily Journal.
Excerpt: On March 13, President Donald Trump declared the COVID-19 outbreak to be a nationwide emergency. This declaration has important consequences for qualified opportunity funds and their subsidiaries. In general, qualified opportunity zone businesses have 31 months to expend their working capital. Thanks to the president’s emergency declaration, qualified opportunity zone businesses in all 50 states should now be entitled to “up to” 24 additional months.