Husch Blackwell, an industry-focused law firm with offices in 18 cities across the United States, has established a multi-disciplinary practice group to provide direction to clients with respect to the recently established federal opportunity zones program.
Established by Congress in the Tax Cuts and Jobs Act of 2017, the program provides tax benefits for taxpayers, including individuals, partnerships and corporations, that invest certain assets in certified qualified opportunity funds. The opportunity zone program encourages long-term investments in distressed areas of the country, primarily those with high poverty and low business growth.
The 22-member opportunity zones team is led by partners Joseph Bredehoft, Ryan Brunton, Jonathan Giokas, and Rebecca Mitich.
The Treasury Department is expected to release formal guidance for interpreting program provisions in the near future.
Husch Blackwell represents clients globally in industries including energy and natural resources; financial services and capital markets; food and agribusiness; healthcare, life sciences and education; real estate, development and construction; and technology, manufacturing and transportation.