Where does a bank account or stock portfolio reside? Is it at the physical location of the banks server hall (assuming only a single server is representing the location of the account), or is it the location of the local representative bank where the customer is said to be located according to the bank? Is it maybe the central headquarter of the bank or maybe the location of the server for the bank online interface where the customer interacts with his account? Alternative, can it be the registered address of the customer, or maybe the actually location for where the customer physically resides.

It seems reasonable that a argument can be made that property exist in one of those places rather than none. Maybe the Federal government should simple dictate where that is and then let local government handle the actually taxation.