A bill to amend the Internal Revenue Code of 1954 to provide that gains from the sales of patents to unrelated persons should be treated in the same manner as ordinary income from sale or licensing of patents.

referredUnited States· United States Congress· EN

Introduced

1 July 1980

Last action

—

Status

Referred to Senate Committee on Finance.

Summary

Amends the Internal Revenue Code, with respect to computing the limitation on the foreign tax credit for corporations, to exclude from the reckoning of capital gains any gain from the sale, exchange or other disposition of a patent, an invention, model, or design (whether or not patented), a copyright, a secret formula or process, or any other similar property right.

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Documents

1 official file

Introduced in Senate
summary · EN · 1 July 1980
Open at official source

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Sources

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Official source: https://www.congress.gov/bill/96th-congress/senate-bill/2915
Open data entity: https://api.congress.gov/v3/bill/96/s/2915