H.R.6544 - Manufacturing Innovation in America Act of 2012

To amend the Internal Revenue Code of 1986 to allow a deduction for patent box profit from the use of United States patents. view all titles (2)

All Bill Titles

  • Official: To amend the Internal Revenue Code of 1986 to allow a deduction for patent box profit from the use of United States patents. as introduced.
  • Short: Manufacturing Innovation in America Act of 2012 as introduced.

This Bill currently has no wiki content. If you would like to create a wiki entry for this bill, please Login, and then select the wiki tab to create it.

Bill’s Views

  • Today: 1
  • Past Seven Days: 1
  • All-Time: 822
 
Introduced
 
House
Passes
 
Senate
Passes
 
President
Signs
 

 
09/21/12
 
 
 
 
 
 
 

Official Summary

Manufacturing Innovation in America Act of 2012 - Amends the Internal Revenue Code to allow a taxpayer to elect a tax deduction for an amount equal to 71% of the lesser of: (1) the taxpayer's patent box profit, or (2 the taxpayer's taxable income for the taxable year. Defines \"pa

Official Summary

Manufacturing Innovation in America Act of 2012 - Amends the Internal Revenue Code to allow a taxpayer to elect a tax deduction for an amount equal to 71% of the lesser of:
(1) the taxpayer's patent box profit, or (2 the taxpayer's taxable income for the taxable year. Defines \"patent box profit\" to include gross receipts derived from the sale, lease, license, or or other disposition of qualified patent property in the course of a U.S. trade or business over the sum of the taxpayer's cost of goods sold allocable to patent gross receipts, other expenses, losses, or deductions, including research and development expenditures, allocable to such receipts, plus routine profit. Defines \"qualified patent\" to include a patent issued or extended by, or for which an application is pending before, the United States Patent and Trademark Office (USPTO). Sets forth rules for the application of the patent box profit deduction to pass-thru entities, including partnerships and S corporations, trusts and estates, and agricultural and horticultural cooperatives.

...Read the Rest




Vote on This Bill

-% Users Support Bill

0 in favor / 0 opposed
 

Send Your Rep a Letter

about this bill Support Oppose Tracking
Track with MyOC