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California Supreme Court Confirms That Intangible Assets Are (Still) Not Subject to Property Taxation

by Sutherland Asbill Brennan LLP - Washington Office

August 26, 2013

Previously published on August 21, 2013

In a unanimous decision issued on August 12, 2013, the California Supreme Court held that the California State Board of Equalization (the BOE) may not assess the value of intangible Emission Reduction Credits (ERCs) when valuing taxable power plant property. Elk Hills Power, LLC v. Board of Equalization (Aug. 12, 2013, S194121) -- Cal.4th -- (Elk Hills). Though it involved just one type of intangible asset, Elk Hills has far broader implications. The California Supreme Court’s decision makes clear that property taxation of virtually all intangible assets is prohibited under California law.


The views expressed in this document are solely the views of the author and not Martindale-Hubbell. This document is intended for informational purposes only and is not legal advice or a substitute for consultation with a licensed legal professional in a particular case or circumstance.

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