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Patents

Drug maker seeking FDA OK for generic drug must capitalize patent infringement defense costs

Drug maker seeking FDA OK for generic drug must capitalize patent infringement defense costs

Legal Advice Issued by Field Attorneys 20154502F In Legal Advice issued by Field Attorneys (LAFA), IRS has concluded that a drug company must capitalize under Code Sec. 263 legal fees it paid in defending against a patent infringement lawsuit that was filed as part of the complex process of obtaining FDA approval for a generic […]

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Costs of protecting against patent infringement are deductible business expenses

Costs of protecting against patent infringement are deductible business expenses

PLR 201536006 In a private letter ruling (PLR), IRS has concluded that amounts paid to protect against patent infringement were deductible as ordinary and necessary business expenses under Code Sec. 162. The payments arose out of a dispute over whether a competitor infringed on a patent and whether the patent was properly issued, not over […]

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Patent holder’s control of corporate transferee defeats long-term capital gain treatment

Patent holder’s control of corporate transferee defeats long-term capital gain treatment

Cooper, (2014) 143 TC No. 10 In a case of first impression for the Tax Court, it has concluded that for purposes of Code Sec. 1235 (which provides long term capital gain for certain transfers of patents to an unrelated party), the retention of a patent holder’s control over a corporate transferee (that was unrelated […]

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IRS resolves buyer’s and seller’s inconsistent treatment in transfer of patents

IRS resolves buyer’s and seller’s inconsistent treatment in transfer of patents

In highly redacted Legal Advice issued by Field Attorneys (LAFA), IRS has concluded in LAFA 20131201F, that a shareholder sold patents to a corporation and did not license them as the corporation contended. Thus, the corporation couldn’t deduct the installment payments it made to the shareholder but could amortize the cost of the payments, and […]

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Meet Paul Raymond

Meet Paul Raymond

Mr. Raymond is a sought after speaker in tax controversy law by many attorney, accountant, and business groups and at the request of the Internal Revenue Service, has presented programs at the IRS Nationwide Tax Forum, attended by tax professionals throughout the United States.

Additionally, he continues to be an active member in the Section of Taxation, American Bar Association, where he was the Past Chair of the Employment Taxes Committee.

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Member CA Bar Member Orange County Bar US Tax Court Attorney