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tangible personal property

   Also found in: Dictionary/thesaurus, Legal, Acronyms, Encyclopedia, Wikipedia 0.01 sec.
tangible personal property

That which can be seen,touched,and moved,such as equipment, furniture, and vehicles. Contrast with intangible personal property, which includes goodwill, copyrights,and accounts receivable.


Tangible Personal Property
Property, other than real property, that has a physical existence and an intrinsic value. Examples are livestock, machinery, equipment, and vehicles.


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Tangible Personal Property Exemption The fourth Amendment 1 change is a $25,000 tangible personal property exemption.
The plaintiff alleged that the hospital waived its governmental immunity under the Tort Claims Act because the patient's injuries arose from the use or misuse of tangible personal property including the radiology room, the X-ray machine, a roller gurney, and a wall bucker.
Virginia exempts from sales tax "services not involving an exchange of tangible personal property which provide access to or use of the international network of computer systems commonly known as the Internet and any other related electronic communication service, including software, data, content and other information services delivered electronically via the Internet"; see VA Code Ann.
 
 
 
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