Montana Code 15-6-218. Intangible personal property exemption
15-6-218. Intangible personal property exemption. (1) Intangible personal property is exempt from taxation.
Terms Used In Montana Code 15-6-218
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Personal property: All property that is not real property.
- Personal property: means money, goods, chattels, things in action, and evidences of debt. See Montana Code 1-1-205
- Property: means real and personal property. See Montana Code 1-1-205
(2)For the purposes of this section, “intangible personal property” means personal property that is not tangible personal property and that:
(a)has no intrinsic value but is the representative or evidence of value, including but not limited to certificates of stock, bonds, promissory notes, licenses, copyrights, patents, trademarks, contracts, software, and franchises; or
(b)lacks physical existence, including but not limited to goodwill.
(3)To the extent that the unit value of centrally assessed property includes intangible personal property, that value must be removed from the unit value.