Business Vs. Schools: Oklahomans Face A Clear Choice On State Question 766
Filed by KOSU News in State Impact.
October 11, 2012
Intangible property is everywhere.
Diners in a fast food restaurant are surrounded by it, from the design of the logo on the cups to the recipe for the special sauce on the hamburgers. A piece of property’s Intangible value is determined by its non-physical attributes. Telecom and utility companies’ transmission lines are worth more than the material they’re made up of. They have an intangible value.
In November, Oklahoma voters will decide State Question 766, which would ban the taxation of intangible property. The failure of 766 could mean big new taxes on businesses across the spectrum, but it will be Oklahoma’s school that suffer if the initiative passes.
- What An Oklahoma-based Hamburger Chain Can Teach Us About Intangible Property Taxes Determining the value of company logos, trade secrets and business licenses could be a nightmare for county assessors, but a ‘yes’ vote on 766 is a vote to cut schools by millions of dollars.Download
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