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CSG launches Qualified Opportunity Zone Group

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Law firm Chiesa Shahinian & Giantomasi has launched a new group offering guidance for participating in the federal Qualified Opportunity Zone Program.

CSG’s newly-launched group is led by Sean Aylward and Francis Giantomasi and comprised of attorneys from various practices, including real estate, development and land use; tax; corporate and securities; environmental; public finance; and trusts and estates.

The Qualified Opportunity Zone Program was established in 2017 and is intended to drive long-term investment in specific low-income areas. The program allows taxpayers to defer, and potentially reduce capital gains for those that invest in a Qualified Opportunity Fund.

“This program will be tremendously beneficial to both designated communities and investors alike,” Giantomasi said in a statement. “Communities will benefit from an influx of private capital that will spur innovative projects, and investors’ portfolios will find great relief in the program’s tax minimization component. It’s a win-win.”

New Jersey has 169 designated Qualified Opportunity Zones.

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Gabrielle Saulsbery

Gabrielle Saulsbery

Albany, N.Y. native Gabrielle Saulsbery is a staff writer for NJBIZ and the newest thing in New Jersey. You can contact her at gsaulsbery@njbiz.com.

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