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Could opportunity funds invest in cannabis businesses?

I want to take advantage of the opportunity zone tax incentive and build a cannabis business. If I make sure the headquarter of the opportunity fund is located in an opportunity zone where cannabis is legal, could there be any other restrictions that will prevent me from funding this type of business?

  • Marks Paneth LLP
    December 14, 2018

    You will need to put in 2 times investment within 2.5 years or so.

  • Sumihiro Investments, LLC
    December 15, 2018

    When you refer to opportunity zone I assume you mean a state that allows the sale of marijuana for pleasure and medical use. The best approach as there are significant regulations, including licensing issues, is to invest in an existing marijuana grow and distribution facility or a related industry such as CBD and nutrient supply companies.