California Revenue & Taxation Code
Cal. Rev. & Tax. Code § 988
# (a)
The full value of motion pictures, including the negatives and prints thereof, is the full value of only the tangible materials upon which such motion pictures are recorded. Such full value does not include the value of, or any value based upon, any intangible rights, such as the copyright or the right to reproduce, copy, exhibit or otherwise exploit motion pictures or the negatives or prints thereof.
# (b)
As used in this section, “motion pictures” includes those intended for transmission, exhibition, or exploitation, by any means or method and whether or not production thereof has been completed.
# (c)
As used in this section, “negatives and prints” includes any film or other tangible property, and reproductions thereof, upon which is recorded by any means or method the sound or action of motion pictures, in positive, negative, or any other form.
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