Joel Rubin Published in Pension Real Estate Association Quarterly
"Taxability of Rental Income from Parking: Update" in the Winter 2007 issue of Pension Real Estate Association Quarterly notes"

Joel's article, "Taxability of Rental Income from Parking: Update" in the Winter 2007 issue of Pension Real Estate Association Quarterly notes "It is time to revisit the Internal Revenue Service's position on the taxability of exempt organization's income from parking." In 1990, the IRS stated the receipt of income from the direct operation of a parking lot by an exempt organization never produces "rent" ... on the other hand, the receipt of revenue from the lease of a parking lot by an exempt organization to a third-party operator may constitute "rent" depending on the type of services provided to the third-party lessee in connection with the lease. "As the operation of parking lots or structures have become more sophisticated and machines and music have displace human operators, the focus has been whether the facility is open to the public, money is collected on the spot for hourly or daily use, and some services are provided for the benefit of the patrons."