Bill Would Give Tax Breaks On Sales Of US-Patented Goods

Law360, New York (July 3, 2013, 6:02 PM EDT) -- A bill recently introduced in Congress would give a significant tax break to companies that manufacture patented products in the U.S., following the lead of the U.K., China and other countries that have enacted similar plans.

Rep. Allyson Schwartz, D-Pa., introduced the Manufacturing Innovation in America Act, H.R. 2605, on June 28. It would lower the corporate tax rate from 35 percent to 10 percent on a company's profits that are derived from the sale of patented products.

Schwartz introduced a similar bill last year, but it did not advance in Congress. At the time, she said that "providing a targeted,...

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