California Court of Appeal Landmark Opinion Expands Intangible Asset Exemption from Property Tax Assessment | Insights
On April 7, 2023, the Second District of the California Court of Appeal published a landmark opinion on California property tax law that expands the tax-exempt status of intangible assets, holding that transient occupancy tax reimbursements and key money payments are intangible assets and that the “Rushmore Method” of removing intangibles from assessment is legally invalid.
Source: gtlaw.com