Wednesday, September 4, 2019
Savannah Story (J.D. Georgia, 2020), Note, Extraordinary Ideas Now Ordinary Income: Incentives Created by the Tax Cut and Jobs Act's New Treatment of Self-created Intellectual Property, 26 J. Intell. Prop. L. 330 (2019):
The effects of TCJA's revision of 26 U.S.C. 5 1221 are uncertain. The legal effect of the multiple contradictions regarding intellectual property income in the code are uncertain. The stability of this policy for years to come is uncertain. With uncertainty around every corner, the true effect this policy has on tax planning is difficult to predict. The instability could result in no change in current behavior and innovation and patent location would remain at the status quo.
Regardless, there are options that would lead to better results for all parties involved than the outcomes under the current code.