Relief at Last for Qualified Opportunity Zone Businesses with Pre-Pandemic Working Capital Safe Harbor Plans
By EsqSocial Corporation 16/04/21
Seyfarth Synopsis: On April 12, 2021, the Department of Treasury (“Treasury”) published proposed Treasury regulations (the “Proposed Regulations”) that (1) permit qualified opportunity zone businesses (“QOZBs”) to revise or replace their written plans for working capital safe harbor compliance following a Federally declared disaster such as the COVID-19 pandemic, (2) establish requirements that certain foreign persons and foreign-owned partnerships must meet in order to be eligible to make a...
By: Seyfarth Shaw LLP