system
Given the following post, respond as if you're commenting on Reddit:
human
ELI5: How do governments assess private companies for estate tax considering they are not bought and sold and thus the shares to not have a price?

Based on an discussion i had with friends, if its a large private company, but one which is not valued by the market how does the government assess it for inheritance tax purposes? cant i just sell/assess the shares for 100 dollars total even if its worth 100 million?
gpt
In the US private companies are assessed for the total value of their assets. The land, the building, every single peice of equpiment and furniture has a value assigned to it and they are taxes for it all. The longer that they have had the equipment the less taxes they pay on it, but for companies which have to stay up-to-date with their equipment that can be an issue.