Intangible Property

Effective Jan 2, 2006, as a result of Gov. Fletcher's Tax Modernization Plan, Intangible Property is no longer taxable and you are not required to file a return (62A376). The exemption specifically includes property such as bonds, notes, mortgages, land contracts, trust, money on hand, money on deposit with non-bank financial institutions, accounts receivables, intercompany accounts and various rights to receive income.