3.0.0 2605 2023-01-11T13:24:43Z 2023-01-11T13:24:43Z House H HR 2013-06-28 113 From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Ms. SCHWARTZ:H.R. 2605.Congress has the power to enact this legislation pursuantto the following:Article 1, Section 8, Clause 1 of the Constitution of theUnited States[Page H4177]]]> hswm00 Ways and Means Committee House Standing Referred to 2013-06-28T13:06:20Z 2013-06-28 Referred to the House Committee on Ways and Means. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2013-06-28 Introduced in House IntroReferral Intro-H 9 Library of Congress 2013-06-28 Introduced in House IntroReferral 1000 9 Library of Congress S001162 Rep. Schwartz, Allyson Y. [D-PA-13] Allyson Schwartz D PA Y. 13 N Taxation Corporate finance and management Income tax deductions Intellectual property Manufacturing Research and development Taxation 00 2013-06-28 Introduced in House 2013-07-09T17:26:34Z 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 Display Title Manufacturing Innovation in America Act of 2013 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. Introduced in House IH Short Titles as Introduced Manufacturing Innovation in America Act of 2013 Introduced in House 2013-06-28T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-113hr2605ih/xml/BILLS-113hr2605ih.xml 2013-06-28 Referred to the House Committee on Ways and Means. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.