The Distinction Between Tangible and Intangible Property Is Important for Tax

question 37

Multiple Choice

The distinction between tangible and intangible property is important for tax purposes because:

• A)tangible property is subject to a state's tax,but intangible property is not.
• B)tangible property is subject to tax in the state where its owner lives,whereas intangible property is usually taxable in the state where it was created.
• C)tangible property is subject to tax in the state where it is located,whereas intangible property is usually taxable in the state where it was created.
• D)tangible property is subject to tax in the state where it is located,whereas intangible property is usually taxable in the state where its owner lives.

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