Handing defeat to California cities fighting a state tax regulation, an appellate court ruled Wednesday that companies are not required to pay annual property taxes on software assets. An Appeal panel affirmed a decision upholding a State Board of Equalization rule. The rule lets companies exempt from fixed property taxes the kinds of software that aren't essential to basic computer operations. Municipal lawyers predict that computer sellers will designate software as optional and achieve a tax exemption.
July 29, 1999 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
Handing defeat to California cities fighting a state tax regulation, an appellate court ruled Wednesday that companies are not required to pay annual property taxes on software assets.
A Second District Court of Appeal panel unanimously affirmed a lower court decision upholding a State Board of Equalization rule. The rule lets companies exempt from fixed property taxes the kinds of software that aren’t essential to basic computer operations.
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