September 20, 2004
Capitol Building
Cheyenne, Wyoming
Senator Jayne Mockler, Chairman
Representative Rodney “Pete” Anderson
Brenda Arnold, Laramie County Assessor
Wade Hall, Department of Revenue
Casey Parker, Attorney General's Office
Bobby Rolston, Anadarko Corporation
Ken Uhrich, Department of Revenue
Michael Walden-Newman, Wyoming Taxpayer's Association
Liz Zerga, Attorney
Representative Tom Lockhart
Mark Quiner, Assistant Director
Don Richards, Senior Research Analyst
Please refer to
Appendix 1 to review the Committee Sign-in Sheet
for a list of other individuals who attended the meeting.
Chairman Mockler called the meeting to order at 9:30 a.m.. Mr. Quiner called the roll. Chairman Mockler then had all the members of the Subcommittee introduce themselves and indicate who they were representing. The following sections summarize the Subcommittee proceedings by topic.
Chairman Mockler explained the purpose of the Subcommittee.
Mr. Don Richards, LSO, explained the background materials prepared for the Subcommittee. The materials include background information and research, proposed definitions for consideration including those submitted by members of the Subcommittee, summaries of state statutes from other states, and materials prepared by the Department of Revenue. Please refer to Appendix 2 to review to the background information provided the Subcommittee.
Chairman Mockler then explained that she had gone through all the submitted materials and condensed several definitions to propose definitions to begin the discussion. The definitions are contained in Appendix 3.
Following discussion, the Subcommittee amended the definitions and agreed upon the following language for further consideration and discussion:
"Tangible property" means real or personal property that, by its nature, is perceptible to the senses. Property that has a physical presence beyond merely representational and that is capable of being touched; property that is able to be perceived as materially existent; property that is not intangible.
"Intangible property" means real or personal property that lacks mass and cannot be seen, felt, weighed, measured or otherwise perceived by the senses; property that has no physical existence beyond merely representational. Its value lies chiefly in what it represents. Its existence may be evidenced by a document.
Chairman Mockler then led the Subcommittee in a discussion of future work still to be done. She requested that the Subcommittee look at the proposed categories for intangible assets from the book entitled "Valuing Intangible Assets," by Robert F. Reilly and Robert P. Schweihs (on page 53 of Appendix 2) for consideration at the next meeting.
Chairman Mockler announced the next meeting of the Subcommittee will be held on Monday, October 4, 2004 in Casper at the Parkway Plaza Hotel at 1 p.m.
There being no further business, Chairman Mockler adjourned the meeting at 12:15 pm..
Respectfully submitted,
Senator Jayne Mockler, Chairman