"Tangible personal property" means personal property that can be seen, weighed, measured, felt, or otherwise perceived by the senses, but does not include a document or other perceptible object that constitutes evidence of a valuable interest, claim, or right and has negligible or no intrinsic value.
Examples include furniture, equipment, computers, and inventory. Business personal property does not include real estate or items such as accounts receivable, goodwill, stocks, bonds, notes, licenses, pensions, and contracts. |
