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Titles (2)

Short Titles

Short Titles - House of Representatives

Short Titles as Introduced

Manufacturing Innovation in America Act of 2013

Official Titles

Official Titles - House of Representatives

Official Title as Introduced

To amend the Internal Revenue Code of 1986 to allow a deduction for patent box profit from the use of United States patents.

Actions Overview (1)

06/28/2013Introduced in House

All Actions (2)

06/28/2013Referred to the House Committee on Ways and Means.
Action By: House of Representatives
06/28/2013Introduced in House
Action By: House of Representatives

Cosponsors (0)

No cosponsors.

Committees (1)

Committees, subcommittees and links to reports associated with this bill are listed here, as well as the nature and date of committee activity and Congressional report number.

Committee / Subcommittee Date Activity Reports
House Ways and Means06/28/2013 Referred to

No related bill information was received for H.R.2605.

Subjects (6)

Latest Summary (1)

There is one summary for H.R.2605. View summaries

Shown Here:
Introduced in House (06/28/2013)

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.