Section 197 Intangibles
Section 197 Intangibles are.
certain intangibles, acquired in connection with a trade or business for the production of income, for which a deduction for amortization is allowed. Such property includes any of the following:
• goodwill and going-concern value.
• intangible property that relates to the work force, information base, know-how, customers, or supplies.
• licenses or permits issued by a government agency.
• covenants not to compete.
• a franchise, trademark, or trade name The amortization period is normally 15 years.
Leave a Reply