tangible personal property


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Related to tangible personal property: Intangible Personal Property

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.
References in periodicals archive ?
The study reallocated 10 percent of the construction cost to 15-year site improvements and 20 percent to five- and seven-year tangible personal property.
Wisconsin does not define tangible personal property or computer software within its corporate income tax law.
New York's definition of capital improvement does not include any contract related to the sale or installation of tangible personal property that retains its identity after installation.
CPAs may want to read Senate report 1881, which accompanied the Revenue Act of 1962, and Senate report 95-1263, which accompanied the Revenue Act of 1978, which both amplify and elucidate the distinction between tangible personal property and structural components.
by inspection or training of franchisees) in Oregon, who receive royalty payments, franchise fees, or income from the transfer of tangible personal property, pursuant to a franchise agreement, are liable for the corporate tax.
The intent of the taxpayer is crucial in determining what is tangible personal property.
The tangible personal property must be used in one of the following ways:
3/26/15), the Oregon Supreme Court focused again on Oregon's UDITPA-modeled text, as well as the context and history of its adoption of the tangible personal property sales factor sourcing statute, to hold that the sale of electricity constituted the sale of tangible personal property for Oregon corporation income tax apportionment purposes and should be sourced to the ultimate destination.
Charges for painting, polishing, and finishing tangible personal property in connection with production of a finished product for consumers
1) Furthermore, the IRS takes the position that in the case of exchanges of intangible property, the standard for determining if intangible property is of like kind to other intangible property is, if anything, more rigorous than the standard for matching tangible personal property.
Generally, deferred rent agreements are tangible personal property agreements involving more than $250,000 in rent payments under which either of the following applies:
Sales of tangible personal property shipped from New York to another state in which the company is not subject to tax is not considered a sale in New York and is, therefore, not taxed at all.