intangible property

Rights not related to physical things, being merely relationships between persons, natural or corporate, which the law recognizes by attaching to them certain sanctions enforceable in the courts. Curry v McCanless, 307 US 357, 83 L Ed 1339, 59 S Ct 900, 123 ALR 162. Property rights protected by the due process clause equally with ordinary real and personal property. 16 Am J2d Const L § 365. For purpose of taxation:-enforceable claims and solvent credits such as bills, notes, and other obligations to pay money, and shares of corporate stock. 51 Am J1st Tax § 420. An unallowed claim for a refund of Federal income taxes is taxable as "other taxable intangibles" rather than as "credits," under statutes taxing money, credits, investments, deposits, and other intangible property, defining "credits" as the excess of current accounts receivable over current accounts payable, defining "current accounts" as items receivable or payable on demand or within one year of the date of inception, and defining "other taxable intangibles" as including every valuable right, title, or interest not comprised within or excluded from the preceding statutory sections of a specific nature. Glidden Co. v Glander, 151 Ohio St 344, 86 NE2d 1, 9 ALR2d 515. See chose in action; incorporeal property; situs; situs for taxation.