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The Water Cooler
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heads up to business owners SQ766
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<blockquote data-quote="Perplexed" data-source="post: 1942234" data-attributes="member: 7157"><p>OK, if I understand the issue, at present some intangible personal property is currently being taxed. It's been that way for some time now, and currently there are some forms of intangible personal property that are not being taxed, but could be in the future. This state question would make it so that no intangible personal property at all would be taxed, including that property which is currently being taxed. Essentially, passing this state question would result in the elimination of a substantial portion of the state's tax base to ensure that potentially taxable intangible personal property is not taxed in the future - am I correct?</p><p></p><p>I assume it'd be asking too much to have a state question that exempts any intangible personal property not being taxed at this time...</p></blockquote><p></p>
[QUOTE="Perplexed, post: 1942234, member: 7157"] OK, if I understand the issue, at present some intangible personal property is currently being taxed. It's been that way for some time now, and currently there are some forms of intangible personal property that are not being taxed, but could be in the future. This state question would make it so that no intangible personal property at all would be taxed, including that property which is currently being taxed. Essentially, passing this state question would result in the elimination of a substantial portion of the state's tax base to ensure that potentially taxable intangible personal property is not taxed in the future - am I correct? I assume it'd be asking too much to have a state question that exempts any intangible personal property not being taxed at this time... [/QUOTE]
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