Oklahoma Nesties
Dear Community,
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
State Question No.: 766
Legislative Referendum No. 363
RESOLUTION OR BILL NUMBER:SJR 52
CITATION:Amends Section 6A of Article 10
SUBJECT:Exempts all intangible personal property from ad valorem taxation
ELECTION DATE:
Next General Election, November 6, 2012 OKLA. CONST. Art. 24, ?1BALLOT TITLE:
This measure amends Section 6A of Article 10 of the Oklahoma Constitution. At present that section exempts some intangible personal property from ad valorem property taxation. This measure would exempt all intangible personal property from ad valorem property taxation.
An ad valorem property tax is a tax imposed upon the value of property.
Intangible Personal Property is property whose value is not derived from its physical attributes, but rather from what it represents or evidences.
Intangible Personal Property which is still currently taxed but would not be taxed if the measure is adopted, includes items such as:
o patents, inventions, formulas, designs, and trade secrets; o licenses, franchise, and contracts; o land leases, mineral interests, and insurance policies; o custom computer software; and o trademarks, trade names and brand names.
If adopted, the measure would apply to property taxation starting with the tax year that begins on January 1, 2013:
Re: State Question 766