McGuireWoods was highlighted in a May 28 Bloomberg Law article as one of a handful of firms with a dedicated national opportunity zones team helping clients take advantage of tax law provisions that foster development in economically challenged areas while realizing tax savings.
Partners Doug Lamb and Greg Riegle were quoted for the story about firms that had the foresight after passage of the 2017 tax law to assemble working groups to guide investors using the law’s incentives for developments in designated “opportunity zones.”
Lamb discussed the capabilities of McGuireWoods multipractice opportunity zone development team on projects such as public-private partnerships, new markets and energy project development. McGuireWoods and McGuireWoods Consulting launched the group to assist clients in optimizing opportunity zone investments and development.
Riegle, co-leader of the opportunity zones team, stressed the limited time in which clients may take full advantage of the program’s tax benefits since there are important 2019 deadlines.