In a recent decision, the Supreme Tax Court held that a multi-storey car park (parking garage) is not eligible for the inheritance tax privilege available for business assets.
The Supreme Tax Court has ruled that for the purposes of considering the allocation of a partner's share in a GmbH to the Special Business Assets II of his partnership interest, regard must be had not only to the business relationship of the GmbH with the partnership – but also to whether the GmbH has a substantial business operation of its own.
