Montana SB169 revises the definition of intangible personal property to exclude it from property tax exemption.

Montana SB169 amends the definition of "intangible personal property" to clarify that it is not exempt from property taxation. This includes items such as certificates of stock, bonds, promissory notes, licenses, copyrights, patents, trademarks, contracts, software, franchises, and goodwill. The bill specifies that these items are taxable unless they are integral to a business or a utility's operation. The changes will take effect for tax years beginning after December 31, 2025.

Montana SB169 revises the definition of intangible personal property to exclude it from property tax exemption.

Montana SB169 amends the definition of "intangible personal property" to clarify that it is not exempt from property taxation. This includes items such as certificates of stock, bonds, promissory notes, licenses, copyrights, patents, trademarks, contracts, software, franchises, and goodwill. The bill specifies that these items are taxable unless they are integral to a business or a utility's operation. The changes will take effect for tax years beginning after December 31, 2025.