Year of Award
Master of Science in Taxation (MST)
College of Business & Professional Studies
assets, deposits, depreciation, taxpayer, business
The term "intangible asset" is not specifically defined nor does it lend itself to precise definition. Intangible assets enable the tangible assets of a business to produce income. For example, a copyright has no value other than the material it covers. No definition has been articulated by the courts or the Internal Revenue Service (IRS) for intangible property. Generally, property is deemed to be intangible and the question of amortization is the issue.
The intangibles Bill H.R. 3035 probably will not become law in 1991. The bill is suppose to be revenue neutral and some of the proposed changes would necessarily jeopardize that neutrality. Of course, any revenue shortfall would have to come from other sources through tax legislation. Hopefully, in spite of jeopardizing this neutrality, the bill will be passed simplifying the tax treatment of intangibles eliminating many of the problems the taxpayer, the legal system and the IRS experience in dealing with the taxation of intangibles.
Creative Commons License
This work is licensed under a Creative Commons Attribution-No Derivative Works 4.0 License.
Therien, Gary K., "Amortization of Customer-Based Intangibles" (1991). Theses, Dissertations, and Capstone Projects. 374.
Available to Fontbonne users only. Please log in with your id + password.
If you are the author of this work and would like to make it openly accessible to all, please click the button above.