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 ?
Since the mid-'70s, Florida has abolished the intangible tax on investments and cut rates for estate taxes.
Such lessees may find themselves taxed twice, once on the value of the lease itself through the intangible tax, and again on an ad valorem basis with regard to the underlying property.
intangible tax base by enacting the 2003 amendment may have come a bit too late.
There's an intangible tax on real estate transactions in Florida.
Part of Florida's tax reform initiatives during this dine of economic prosperity has included chipping away at Florida's intangible tax on accounts receivable.
Domestic corporations had also been subject to an intangible tax on their investments in corporate stock.
File state tangible and intangible tax returns, as required, in the new state.
Addition of 1041 Fiduciary Tax Software (federal only), Colorado state software for business products and intangible tax returns for Florida and Tennessee.
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.
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.