qualified opportunity zone business
Defined in 1 place of the United States Code.
The term "qualified opportunity zone business" means a trade or business—
(i) in which substantially all of the tangible property owned or leased by the taxpayer is qualified opportunity zone business property (determined by substituting "qualified opportunity zone business" for "qualified opportunity fund" each place it appears in paragraph (2)(D)),
(ii) which satisfies the requirements of paragraphs (2), (4), and (8) of section 1397C(b), and
(iii) which is not described in section 144(c)(6)(B).
Source
- 2017–present26 U.S.C. § 1400Z-2Internal Revenue Code · Special rules for capital gains invested in opportunity zones · for purposes of this section