Intangible tax

Intangible tax,

Definition of Intangible tax:

  1. An annual tax assessed by state governments on the current market value of certain non-exempt assets including securities and real property. Bank accounts, bank CDs, tax-exempt bonds, U.S. Treasury bonds, and assets in qualified retirement plans are exempt. Although the value of intangible assets must be reported in annual tax filings a tax is not always assessed.

Meaning of Intangible tax & Intangible tax Definition