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intangible tax

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intangible tax
A tax imposed by some states or local governments on the value of intangible assets such as stocks, bonds, money market funds, and bank account balances.


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International transactions exempted from documentary stamp tax and international banking transactions from intangible tax.
File state tangible and intangible tax returns, as required, in the new state.
Ledger case in 1997, in which the Kentucky Supreme Court held the Kentucky intangible tax on stocks and deposits (a tax enacted in 1907) discriminatory and unconstitutional resulting in refunds to Kentucky taxpayers of more than $180 million.
 
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