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Texas Tax Code - TAX § 11.02. Intangible Personal Property

Current as of January 01, 2024 | Updated by Findlaw Staff

(a) Except as provided by Subsection (b) of this section, intangible personal property is not taxable.

(b) Intangible property governed by Article 4.01, Insurance Code, or by Section 89.003, Finance Code, is taxable as provided by law, unless exempt by law, if this state has jurisdiction to tax those intangibles.

(c) This state has jurisdiction to tax intangible personal property if the property is:

(1) owned by a resident of this state; or

(2) located in this state for business purposes.

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Cite this article: FindLaw.com - Texas Tax Code - TAX § 11.02. Intangible Personal Property - last updated January 01, 2024 | https://codes.findlaw.com/tx/tax-code/tax-sect-11-02/

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.

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