The voters in the states of Arizona, Montana, New Jersey and South Dakota approved the use of marijuana in their state in the recent election. What does this mean for OZ investors and entrepreneurs?
It just means you can try your luck with marijuana investments in those states. I have been advising my clients that marijuana OZ investments will probably turn out fine, but you need to bear the risk that marijuana is not yet off Schedule I by the time the 10- year holding period has elapsed.
There is no real direct impact. To date, marijuana is not included in the sin business listing. So assuming one can get around the financing hurdles, there is no restriction on using opportunity zones in this arena.
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