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Thompson Hine LLP, a full-service business law firm with approximately 400 lawyers in 8 offices, was ranked number 1 in the category “Most innovative North American law firms: New working models” by The Financial Times and was 1 of 7 firms shortlisted for The American Lawyer’s inaugural Legal Services Innovation Award. The firm has been recognized by the National Law Journal as a Legal Technology Trailblazer and featured by Bloomberg for its innovative service delivery models, which drive accuracy and predictability. The firm’s commitment to innovation is embodied in Thompson Hine SmartPaTHTM – a smarter way to work – predictable, efficient and aligned with client goals. For more information, please visit ThompsonHine.com and ThompsonHine.com/SmartPaTH.

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On April 17, 2019, the IRS released a second round of guidance (Round Two Guidance) with respect to Qualified Opportunity Zones (QOZs) through an additional 169 pages of proposed regulations. The new guidance provides detail with respect to investments in operating businesses.

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The following link [<a href="https://admin.thompsonhine.com/wp-content/uploads/1345/doc/Opportunity_Zones_and_Startup_Tech_Companies_-_Round_Two_Guidance_Summary.pdf" target="_blank" rel="noopener">read here</a>] is a summary of the Round Two Guidance with a focus on investments in startup tech businesses. A shorter outline of the points of this summary can be accessed [<a href="https://admin.thompsonhine.com/wp-content/uploads/1345/doc/Opportunity_Zones_and_Startup_Tech_Companies_-_Round_Two_Guidance_Outline.pdf" target="_blank" rel="noopener">read here</a>] and might be easier for a quick snapshot of the guidance.

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A broader overview of the Round Two Guidance has also been prepared and can be accessed online [<a href="https://admin.thompsonhine.com/wp-content/uploads/1345/doc/Qualified_Opportunity_Zone_Alert_-_Opportunity_Zone_IRS_Guidance_-_Round_Two_Outline.pdf" target="_blank" rel="noopener">read here</a>].

https://admin.thompsonhine.com/wp-content/uploads/2022/04/Opportunity_Zones_and_Startup_Tech_Companies_-_Round_Two_Guidance_Outline.pdf

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Senior Managing Associate

Alexis J. Kim

Opportunity Zone and Startup Tech Companies IRS Guidance: Round Two Summary