intangible tax

Intangible Tax

A tax imposed on an intangible asset. For example, an intangible tax may be levied on a brand or a stock. Intangible taxes can be difficult to assess because of the difficulties inherent in valuing intangible assets. In the United States, intangible taxes are imposed at the state and local levels.

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.
References in periodicals archive ?
In addition, effective March 28, 2012, the property tax exemption for nongovernmental lessees of government-owned property is expanded to include an exemption from intangible tax.
There's an intangible tax on real estate transactions in Florida.
File state tangible and intangible tax returns, as required, in the new state.
TBFCU has competitive rates and lower closing cost than most banks and mortgage brokers offer as they are "non-profit", no "junk fees" and are exempt for Florida State Intangible tax.
The law also requires Florida taxpayers to file intangible tax electronically if the individual taxpayer, couple or business owes $30,000 or more in tax.
If the senior family member is a Florida resident, it would be very difficult for the senior member to give up control for intangible tax purposes, yet retain control of the partnership otherwise.
Addition of 1041 Fiduciary Tax Software (federal only), Colorado state software for business products and intangible tax returns for Florida and Tennessee.
Add lower closing costs, exemption from intangible tax, no origination fees, no underwriting fees, no processing fees, and no third party broker fees and competitive interest rates and anyone in the market might wonder why they didn't walk into a credit union sooner.
Individuals and couples owing no intangible tax are not required to file returns and are not affected by this provision.
Florida imposes an annual state intangible tax based on the value of an intangible asset held by a Florida resident on January 1 of each year.
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.