Idaho Administrative Code › Title IDAPA 35 - Tax Commission, State › Rule 35.01.03 - PROPERTY TAX ADMINISTRATIVE RULES › Section 35.01.03.615 - PROPERTY EXEMPT FROM TAXATION - CERTAIN INTANGIBLE PERSONAL PROPERTY

Current through August 31, 2023
Section
				63-602L, Idaho Code
01.
Definitions
. The following
			 definitions apply to the exemption for certain intangible personal property.
			 (3-31-22)
a. Contracts and contract rights.
			 Contracts and contract rights are enforceable agreements, which establish
			 mutual rights and responsibilities, and rights created under such agreements.
			 Contracts and contract rights do not include tax credits received by low-income
			 housing properties under Section
			 42 of the Internal Revenue Code.
			 (3-31-22)
b. Copyrights. Copyrights
			 are rights granted to the author or originator of literary or artistic
			 productions, by which he or she is invested with the sole and exclusive
			 privilege of making, publishing or selling copies for a specified time.
			 (3-31-22)
c. Custom computer
			 programs. Custom computer programs means those programs defined in Section
			 63-3616, Idaho Code.
			 (3-31-22)
d. Customer lists.
			 Customer lists are proprietary lists containing information about a business
			 enterprise's customers. (3-31-22)
e. Franchises. Franchises are special
			 privileges. (3-31-22)
f. Goodwill.
			 Goodwill is the expectation of continued public patronage of a business.
			 Goodwill is the ability of a business to generate income in excess of a normal
			 rate due to such things as superior managerial skills, superior market
			 position, favorable community and customer reputation and high employee morale.
			 (3-31-22)
g. Licenses. Licenses are
			 permissions to do acts, which are not allowed without such permissions.
			 (3-31-22)
h. Method A. Method A is
			 the method by which the value of exempt intangible personal property is
			 excluded from the value of operating property by subtracting the market value
			 of exempt intangible personal property from the market value of the operating
			 property at the system level. (3-31-22)
i. Method B. Method B is the method by which
			 the value of exempt intangible personal property is excluded from the value of
			 operating property by subtracting the market value of exempt intangible
			 personal property from the market value of the operating property at the state
			 level. (3-31-22)
j. Method C.
			 Method C is the method by which the value of exempt intangible personal
			 property is excluded from the value of operating property by using valuation
			 models which value only the non-exempt assets. (3-31-22)
k. Patents. Patents are grants from the
			 government conveying and securing the exclusive right to make, use and sell
			 inventions. (3-31-22)
l.
			 Rights-of-way which are possessory only and not accompanied by title.
			 Rights-of-way, which are possessory only and not accompanied by title, are
			 easements by which grantees acquire only the rights to pass over or to access
			 for installation or maintenance, without acquiring exclusive use of the
			 rights-of-way. (3-31-22)
m.
			 Trademarks. Trademarks are marks of authenticity, through which products of
			 particular manufacturers or vendible commodities of particular merchants may be
			 distinguished from those of others. (3-31-22)
n. Trade secrets. Trade secrets are formulas,
			 patterns, compilations, programs, devices, methods, techniques or processes,
			 deriving independent economic values from not being generally known by other
			 persons who can obtain economic values from disclosure or use. Trade secrets
			 are the subjects of efforts that are reasonable to maintain secrecy.
			 (3-31-22)