Bed-and-Breakfasts
This U.S. industry comprises establishments primarily engaged in providing short-term lodging in facilities known as bed-and-breakfast inns. These establishments provide short-term lodging in private homes or small buildings converted for this purpose. Bed-and-breakfast inns are characterized by a highly personalized service and inclusion of a full breakfast in the room rate.
Court Utilizes DCF Valuation Method, Decries Failure to Consider Willing Seller
At date of death, decedent owned a 1% general partnership interest and a 23.9650903% limited partnership interest in LKB Associates, a limited partnership organized under the laws of the District of Columbia.
Lehmann v. Commissioner
At issue is whether petitioner correctly valued the partnership interests in LKB Associates for purposes of decedent's gross estate.