What An Oklahoma Hamburger Chain Can Teach Us About Intangible Property Taxes
Filed by KOSU News in State Impact.
October 12, 2012
Intangible property is everywhere.
An item’s intangible value is determined by its non-physical attributes. Telecommunications 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 education officials worry that Oklahoma’s schools will suffer if the initiative passes.
- What’s in a Name? (Or logo, license, list or trade secret?) Determining the value of intangible property could be a nightmare for county assessors, but education officials say a ‘yes’ vote on SQ 766 will cut schools funding by millions.Download
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