Idaho § 63-602L - Property exempt from taxation - Intangible personal property
Full text of Idaho Idaho Statutes § 63-602L — Property exempt from taxation - Intangible personal property, with citation guidance and answers to common questions.
§ 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.
[63-602L, added 1996, ch. 98, sec. 7, p. 353; am. 1998, ch. 400, sec. 4, p. 1254.]
Source: official Idaho text · Last verified 2026-08-27
Frequently Asked Questions About Idaho § 63-602L
What does Idaho Statutes § 63-602L cover?
Section 63-602L ("Property exempt from taxation - Intangible personal property") is part of the Idaho Statutes, the codified statutory law of Idaho. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Idaho § 63-602L?
A common citation format is "Idaho Statutes § 63-602L" (Idaho). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Idaho law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Idaho official source linked on this page or consult a licensed Idaho attorney.
How does Idaho § 63-602L apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Idaho can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Idaho.