Opportunity Zone tax benefit in a nut shell:
Capital gains rolled over into Opportunity zones allow a 5% tax incentive for the first 5 years, 10% tax incentive for a 7 year investment. NO TAX ON THE CAPITAL GAIN AFTER 10 YEAR HOLDING PERIOD ! Your basis upon disposition is the fair market value at the time of sale or exchange.
OZ investments allow for the the deferral of current capital gains tax. Much like a 1031 exchange. 180 day window to invest into a QOZfund. With additional time to invest for certain legal entities.