### Question
What is the definition of qualifying lending and finance business?


### Answer
The definition of **qualifying lending and finance business** is as follows in *26 U.S.C. § 6166*:

> a lending and finance business, if—



(I) based on all the facts and circumstances immediately before the date of the decedent's death, there was substantial activity with respect to the lending and finance business, or



(II) during at least 3 of the 5 taxable years ending before the date of the decedent's death, such business had at least 1 full-time employee substantially all of whose services were the active management of such business, 10 full-time, nonowner employees substantially all of whose services were directly related to such business, and $5,000,000 in gross receipts from activities described in clause (ii)

#### Citation:
  - *26 U.S.C. § 6166*
  - Heading: **Subtitle F-Procedure and Administration > CHAPTER 62-TIME AND PLACE FOR PAYING TAX > Subchapter B-Extensions of Time for Payment**

