Intangible property. Intangible property, also known as incorporeal property, describes something which a person or corporation can have ownership of and can transfer ownership to another person or corporation, but has no physical substance, for example brand identity or knowledge/intellectual property.
https://en.wikipedia.org/wiki/Intangible_property
This type property is sometimes taxed by some jurisdictions. The most common forms of intangible property for companies include goodwill, research and development, and patents.
https://www.investopedia.com/terms/i/intangible-personal-property.asp
Intangible property is used in distinction to tangible property. It is useful to note that there are two forms of intangible property: legal intangible property (which is discussed here) and competitive intangible property (which is the source from which legal intangible property is created but cannot be owned, extinguished, or transferred).
https://en.wikipedia.org/wiki/Intangible_property
In the case of any section 197 intangible which would be tax-exempt use property as defined in subsection (h) of section 168 if such section applied to such intangible, the amortization period under this section shall not be less than 125 percent of the lease term (within the meaning of section 168(i)(3)).
https://www.law.cornell.edu/uscode/text/26/197
(October 2015) Intangible property, also known as incorporeal property, describes something which a person or corporation can have ownership of and can transfer ownership to another person or corporation, but has no physical substance, for example brand identity or knowledge/intellectual property.
https://en.wikipedia.org/wiki/Intangible_property
to pay a tax on such gain which, when added to any other income tax on such gain under this title, equals such gain multiplied by the highest rate of income tax applicable to such person under this title,
https://www.law.cornell.edu/uscode/text/26/197
These documents, sometimes referred to as Private Letter Rulings, are taken from the IRS Written Determinations page; the IRS also publishes a fuller explanation of what they are and what they mean. The collection is updated (at our end) daily. It appears that the IRS updates their listing every Friday.
https://www.law.cornell.edu/uscode/text/26/197
which is created by the taxpayer. 1  This paragraph shall not apply if the intangible is created in connection with a transaction (or series of related transactions) involving the acquisition of assets constituting a trade or business or substantial portion thereof.
https://www.law.cornell.edu/uscode/text/26/197
Generally, ownership of intangible property gives the owner a set of legally enforceable rights over reproduction of personal property containing certain content. For example, a copyright owner can control the reproduction of the work forming the copyright.
https://en.wikipedia.org/wiki/Intangible_property
Note that the IRS often titles documents in a very plain-vanilla, duplicative way. Do not assume that identically-titled documents are the same, or that a later document supersedes another with the same title. That is unlikely to be the case. Release dates appear exactly as we get them from the IRS. Some are clearly wrong, but we have made no attempt to correct them, as we have no way guess correctly in all cases, and do not wish to add to the confusion.
https://www.law.cornell.edu/uscode/text/26/197
irs definition intangible property
In IRS, intangible property describes something which a person or corporation can have ownership of and can transfer ownership to another person or corporation, but has no physical substance. Internal Revenue Services defines Intangible Property as incorporeal property, describes something which a person or corporation can have ownership of and can transfer ownership to another person or corporation, but has no physical substance.