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Grey Ops Selected for ‘Opportunity Zone’ Defense Tech Funding Vehicle

Grey Ops Selected for 'Opportunity Zone' Defense Tech Funding Vehicle - top government contractors - best government contracting event

Grey Ops Selected for 'Opportunity Zone' Defense Tech Funding Vehicle - top government contractors - best government contracting eventGrey Holdings Group has introduced the Opportunity Zone Fund investment vehicle used primarily for defense technology as part of a tax incentive program under the 2017 Tax Reform Act.

Brian Gamble, director of finance at Grey Holdings Group, said the group selected Qualified Opportunity Zone firm Grey Ops as its first Defense Technology Transfer investment due to the latter's extensive experience in defense technology licensing, Grey Holdings said Tuesday.

Gamble noted that Grey Ops owns the licensing rights for a neutralizing system for improvised explosive devices called Silent Spring, which is meant to be poured onto primary explosives for anti-terrorism missions.

He added that QOZ businesses can benefit from the program's 10-year tax-free gain in both the business and real estate.

QOZ investors can leverage tax benefits such as an eight-year deferral of current capital gains; an up to 15% tax reduction on current gains when paid after eight years; and no capital gains taxes on appreciation of investment if held for at least 10 years.

The 2017 Tax Reform Act additionally enables investors to defer and reduce capital gains taxes upon reinvestment of profits into an Opportunity Zone Fund if the transaction was made within 180 days after the sale of a prior investment.

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