63-602L. PROPERTY EXEMPT FROM TAXATION — INTANGIBLE PERSONAL PROPERTY. (1) The following intangible personal property is exempt from taxation: capital stock and bonds. The deposits in national banks, state banks, and savings and loan associations. Shares and accounts of savings and loan associations, credit unions or associations organized under the laws of the state of Idaho for the purpose of accumulating the savings and funds of their members and lending the same to their members. Goodwill, customer lists, contracts and contract rights, patents, trademarks, custom computer programs as defined in section 63-3616, Idaho Code, copyrights, trade secrets, franchises, licenses, rights-of-way which are possessory only and not accompanied by title.
(2) The commission shall promulgate rules which shall provide for the exclusion of exempt intangible personal property from taxable value of operating property. Such rules shall allow each taxpayer the right to elect one (1) of the following three (3) methods for exclusion of exempt intangible personal property from its taxable value:
(a) Separate exclusion of the exempt intangible personal property at the system level value; or
(b) Separate exclusion of the exempt intangible personal property at the state allocated value; or
(c) Exclusion of the exempt intangible personal property by valuation of only tangible personal property and nonexempt intangible personal property using valuation models which do not impound or include values of the exempt intangible personal property.
History:
[63-602L, added 1996, ch. 98, sec. 7, p. 353; am. 1998, ch. 400, sec. 4, p. 1254.]
Structure Idaho Code
Title 63 - REVENUE AND TAXATION
Chapter 6 - EXEMPTIONS FROM TAXATION
Section 63-601 - ALL PROPERTY SUBJECT TO TAXATION.
Section 63-602 - PROPERTY EXEMPT FROM TAXATION.
Section 63-602A - PROPERTY EXEMPT FROM TAXATION — GOVERNMENT PROPERTY.
Section 63-602D - PROPERTY EXEMPT FROM TAXATION — CERTAIN HOSPITALS.
Section 63-602E - PROPERTY EXEMPT FROM TAXATION — PROPERTY USED FOR SCHOOL OR EDUCATIONAL PURPOSES.
Section 63-602F - PROPERTY EXEMPT FROM TAXATION.
Section 63-602G - PROPERTY EXEMPT FROM TAXATION — HOMESTEAD.
Section 63-602H - VALUE OF RESIDENTIAL PROPERTY IN CERTAIN ZONED AREAS.
Section 63-602J - PROPERTY EXEMPT FROM TAXATION — MOTOR VEHICLES AND VESSELS PROPERLY REGISTERED.
Section 63-602L - PROPERTY EXEMPT FROM TAXATION — INTANGIBLE PERSONAL PROPERTY.
Section 63-602M - PROPERTY EXEMPT FROM TAXATION — CERTAIN SECURED DUES AND CREDITS.
Section 63-602P - PROPERTY EXEMPT FROM TAXATION — FACILITIES FOR WATER OR AIR POLLUTION CONTROL.
Section 63-602Q - PROPERTY EXEMPT FROM TAXATION — CERTAIN COOPERATIVE TELEPHONE LINES.
Section 63-602R - PROPERTY EXEMPT FROM TAXATION — AGRICULTURAL CROPS.
Section 63-602X - PROPERTY EXEMPT FROM TAXATION — CASUALTY LOSS.
Section 63-602Y - PROPERTY EXEMPT FROM TAXATION — EFFECT OF CHANGE OF STATUS.
Section 63-602Z - EXEMPTION FROM OCCUPANCY TAX.
Section 63-602AA - PROPERTY EXEMPT FROM TAXATION — EXCEPTIONAL SITUATIONS.
Section 63-602BB - PARTIAL EXEMPTION FOR REMEDIATED LAND.
Section 63-602DD - MANUFACTURED HOMES USED UNDER A DEALER’S PLATE OR AS A SHEEP AND COW CAMP.
Section 63-602EE - PROPERTY EXEMPT FROM TAXATION — CERTAIN TANGIBLE PERSONAL PROPERTY.
Section 63-602HH - PROPERTY EXEMPT FROM TAXATION — SIGNIFICANT CAPITAL INVESTMENTS.
Section 63-602II - PROPERTY EXEMPT FROM TAXATION — UNUSED INFRASTRUCTURE.
Section 63-602KK - PROPERTY EXEMPT FROM TAXATION — CERTAIN PERSONAL PROPERTY.
Section 63-602NN - PROPERTY EXEMPT FROM TAXATION — CERTAIN BUSINESS PROPERTY.
Section 63-602OO - PROPERTY EXEMPT FROM TAXATION — OIL OR GAS RELATED WELLS.
Section 63-604 - LAND ACTIVELY DEVOTED TO AGRICULTURE DEFINED.
Section 63-605 - LAND USED TO PROTECT WILDLIFE AND WILDLIFE HABITAT.
Section 63-606A - SMALL EMPLOYER GROWTH INCENTIVE EXEMPTION.