- Ag Docket
(court reverses the Tax Court and allows taxpayer, manufacturer of kitchen items, to currently deduct royalties paid it to put "Pyrex" and "Oneida" trademarks on taxpayer's kitchen tools; sales-based royalty payments are currently deductible because they are not allocable to property that the taxpayer produces which would require capitalization under I.R.C. Sec. 263A; appellate court focused solely on fact that royalty payments calculated on items that were sold rather than items that were produced and were, therefore, more properly characterized as marketing expenses rather than production expenses).
CALT does not provide legal advice. Any information provided on this website is not intended to be a substitute for legal services from a competent professional. CALT's work is supported by fee-based seminars and generous private gifts. Any opinions, findings, conclusions or recommendations expressed in the material contained on this website do not necessarily reflect the views of Iowa State University.