As a public service the Research Council prepared digests of staff reports to the Michigan State Tax Study Committee. This digest on the intangibles tax discusses the basis for taxation, the tax base, exemptions, tax rates, deductions, situs, yield, and the distribution of revenues. It looks at how other states tax intangibles and discusses a few particular issues, such as the treatment of accounts receivable; the taxation of banks and other financial businesses; face, par, or contributed value; and administration of the tax. It concludes by addressing the economic effects of the tax.