The amount or level of presence in a state that is required before a company is subject to taxation by that state. The face value of a security. A system of betting in which the amounts wagered are placed in a pool to be shared by those who bet on the winners minus a percentage for the management. Generally considered things movable. Contrasted with personal property is real property, which is all things attached to the realty.
Personal property is embraces both tangible property other than realty and intangible property.
A tax imposed distinctively on removal of natural products such as oil, gas, other minerals, timber, or fish and measured by value or quantity of products removed or sold. The place where something exists or originates. For tax purposes, examples of situs might include the location of a residence or business, the place of work, and the origination of an estate or trust. Article IX, Section 3, of the Michigan Constitution provides for the uniform general ad valorem taxation of real and tangible personal property not exempt by law. The Constitution permits the legislature to provide for alternative means of taxation of designated real and tangible personal property in lieu of general ad valorem taxation.