A&O Shearman was formed in 2024 via the merger of two historic firms, Allen & Overy and Shearman & Sterling. With nearly 4,000 lawyers globally, we are equally fluent in English law, U.S. law and the laws of the world’s most dynamic markets.
This combination creates a new kind of law firm, one built to achieve unparalleled outcomes for our clients on their most complex, multijurisdictional matters – everywhere in the world. A firm that advises at the forefront of the forces changing the current of global business and that is unrivalled in its global strength.
Our clients benefit from the collective experience of teams who work with many of the world’s most influential companies and institutions, and have a history of precedent-setting innovations.
Together our lawyers advise more than a third of NYSE-listed businesses, a fifth of the NASDAQ and a notable proportion of the London Stock Exchange, the Euronext, Euronext Paris and the Tokyo and Hong Kong Stock Exchanges.
The Treasury Department and the IRS issued today highly
anticipated proposed regulations regarding "Qualified
Opportunity Zones." The Qualified Opportunity Zone regime was
introduced as part of the Tax Cuts and Jobs Act of 2017 to
encourage private investment in distressed communities. Under the
regime, investors that wish to defer capital gains recognized upon
a sale or exchange of an asset to an unrelated party (and to derive
other tax benefits) can invest that gain in a Qualified Opportunity
Fund, which in turn invests in so-called "Qualified
Opportunity Zone Property."
Since its enactment, industry participants have been eagerly
awaiting the release of Treasury regulations to address many of the
uncertainties regarding the application and implementation of the
regime, particularly regarding how an entity will qualify as a
Qualified Opportunity Fund. We are closely analyzing these proposed
regulations and will be issuing in the near future a detailed
analysis.
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guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
