intangible tax

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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 ?
But, there are a number of closing taxes, including documentary stamps and intangible taxes. Make sure you budget for these.
These obligations are numerous and include returns for income, estate, generation-skipping, gift and intangible taxes. A failure to file these tax returns and to pay these taxes could result in the PR being personally liable to the Internal Revenue Service or to the Florida Department of Revenue for any unpaid taxes, penalties, and interest.
[33] Although the Florida Department of Revenue has not promulgated any formal opinion or statement as to the imposition of intangible taxes against a member's interest in a limited liability company, Nadine Posie and Joe Parimore of the Florida Department of Revenue have orally confirmed the position of the Florida Department of Revenue on this issue.
Unless the law is changed in this area, the IITT concept will continue to be the most effective way in which to avoid intangible taxes while retaining flexibility in the composition of an investment portfolio.