Long Beach lies in the state of California which has decoupled itself from federal tax code provisions regarding Opportunity Zone tax deferral and treatment.
Out of the 114 census tracts that exist within, or partially within the city of Long Beach 19 have been designated eligible for Qualified Opportunity Fund investment. This represents approximately 16.67% of the census tracts in the city. Of the zones that are eligible, 19 qualify as a low-income community. This means the poverty rate was above 20%, or that the median household income was below 80% of the state or metropolitan area’s median household income.
The remaining zones qualified as contiguous, meaning they were located adjacent to an eligible tract, and the median household income did not exceed 125% of that eligible tract. Long Beach lies in the state of California which automatically conforms to the federal tax code as it is amended. Both the city and state have adopted the new Qualified Opportunity Zone provisions. California has 879 opportunity zones, which means Long Beach contains 2.16% of the Qualified Opportunity Zones that exist within the state.
Simple & Easy to Understand
COMPANY
CONTACT US
111 Congress Ave
Suite 1000
Austin, TX 78701
(877) 797-1031
Realized1031.com is a website operated by Realized Technologies, LLC, a wholly owned subsidiary of Realized Holdings, Inc. (“Realized”). Securities offered on this website are offered exclusively through Thornhill Securities, Inc., a registered broker/dealer and member of FINRA/SIPC("Thornhill"). Investment advisory services are offered through Thornhill Securities, Inc. a registered investment adviser. Thornhill Securities, Inc. is a subsidiary of Realized. Check the background of this firm on FINRA's BrokerCheck.
Realized does not provide tax or legal advice. Tax topics discussed are for educational purposes only and are not a substitute for professional tax advice. You should discuss your personal situation with a tax or legal professional.
Hypothetical example(s) are for illustrative purposes only and are not intended to represent the past or future performance of any specific investment.
Investing in alternative assets involves higher risks than traditional investments and is suitable only for sophisticated investors. Alternative investments are often sold by prospectus that discloses all risks, fees, and expenses. They are not tax efficient and an investor should consult with his/her tax advisor prior to investing. Alternative investments have higher fees than traditional investments and they may also be highly leveraged and engage in speculative investment techniques, which can magnify the potential for investment loss or gain and should not be deemed a complete investment program. The value of the investment may fall as well as rise and investors may get back less than they invested.
This site is published for residents of the United States who are accredited investors only. Registered Representatives and Investment Advisor Representatives may only conduct business with residents of the states and jurisdictions in which they are properly registered. Therefore, a response to a request for information may be delayed until appropriate registration is obtained or exemption from registration is determined. Not all of the services referenced on this site are available in every state and through every representative listed. For additional information, please contact 877-797-1031 or info@realized1031.com.
© 2021 Realized Holdings, Inc.
