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Q: Fed income taxes ( No Answer,   0 Comments )
Question  
Subject: Fed income taxes
Category: Business and Money
Asked by: buddy1-ga
List Price: $50.00
Posted: 03 Sep 2003 17:28 PDT
Expires: 16 Sep 2003 21:31 PDT
Question ID: 251976
Patent Holder granted a fully paid up license to Licensee for cash.
Patent holder paid Fed taxes based on ordinary income.  Subsequent
court proceeding against another party determined patent was not
enforceable (of zero worth). Question-- was license in fact a transfer
of "all substantial rights" under tax law section 1235 and Holder
entitled to refile tax return and pay capital gains.
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