US Congress House Bill 2605 (Prior Session Legislation)

---

Sponsorship: Partisan Bill (Democrat 1)
Status: Introduced on June 28 2013 - 25% progression, died in committee
Action: 2013-06-28 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]

Manufacturing Innovation in America Act of 2013 - 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.

Manufacturing Innovation in America Act of 2013

Rep. Allyson Schwartz [D-PA]

Date	Chamber	Action
2013-06-28	House	Referred to the House Committee on Ways and Means.

Type	Source
Summary	https://www.congress.gov/bill/113th-congress/house-bill/2605/all-info
Text	https://www.congress.gov/113/bills/hr2605/BILLS-113hr2605ih.pdf