US Laws, Codes, Statutes & Cases

                                  TITLE  63
                             REVENUE AND TAXATION
                                  CHAPTER 6
                           EXEMPTIONS FROM TAXATION
    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.