What exemptions apply to partnerships?
Partnerships are not entitled to special exemptions per se. They are exempt only on property subject to (or specifically exempt from) an excise or fee for which a property tax exemption generally applies or on property that is otherwise entitled to exemption regardless of the form of ownership. See Answer to Question 11. Partnerships are subject to property tax on all other personal property. See GL c. 59, §18, Sixth. Partnerships include limited partnerships and limited liability partnerships. Limited liability companies treated as partnerships for federal tax purposes are also taxable on all other personal property. See GL c. 59, §18, First.
