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An interesting idea, but which Maine tax would apply? I'm not a Maine tax lawyer, but it looks like Maine has plenty of taxes, including a "Blueberry Tax" [1][

An interesting idea, but which Maine tax would apply? I'm not a Maine tax lawyer, but it looks like Maine has plenty of taxes, including a "Blueberry Tax" [1][2], but there doesn't appear to be a general assets tax. Any corporate income from licensing the patent would be taxed just the same as any other income. Maine's property tax appears to apply only to "real property" (land) and "tangible" personal property [3] ("tangible" property includes tractors, factory equipment, and other things you can pick up and hold --- patents and other IP are "intangible personal property.") If you think it's a capital asset subject to capital gains taxation, there's usually no tax on that until the gain is realized by sale. I don't know how patents are taxed in states with general ad valorem taxes, but Maine doesn't seem to be one of those states. [1] http://www.maine.gov/revenue/othertaxes/homepage.html http://www.maine.gov/revenue/othertaxes/homepage.html [2] http://www.mainelegislature.org/legis/statutes/36/title36ch0sec0.html http://www.mainelegislature.org/legis/statutes/36/title36ch0... [3] http://www.mainelegislature.org/legis/statutes/36/title36sec601.html http://www.mainelegislature.org/legis/statutes/36/title36sec...

kstrauser 14y ago
I would be willing to bet that cash-strapped legislatures might be interested in the idea. In fact, I plan to test idea by suggesting it to as many legislators as will listen.
- jlgreco 14y ago
  How do you envision this system not placing undue burden on small inventors? This proposed change would take the patent system, from something that is supposed to promote the progress of science, and turn it completely on it's head. Any small inventor that dared patent something worth-while would be forced to either turn a massive profit on it before tax season, sell it before tax season, or risk it being stolen with few substantial penalties. Companies with deep pockets would have a field day taking advantage of inventors, they would ignore patents if the inventor declared it worth little for tax reasons. Or, if the inventor claimed the true value of the patent for taxes, they would buy out the inventor at cut-rate prices after taxes had ruined him.

kstrauser 14y ago

I would be willing to bet that cash-strapped legislatures might be interested in the idea. In fact, I plan to test idea by suggesting it to as many legislators as will listen.

jlgreco 14y ago
How do you envision this system not placing undue burden on small inventors? This proposed change would take the patent system, from something that is supposed to promote the progress of science, and turn it completely on it's head. Any small inventor that dared patent something worth-while would be forced to either turn a massive profit on it before tax season, sell it before tax season, or risk it being stolen with few substantial penalties. Companies with deep pockets would have a field day taking advantage of inventors, they would ignore patents if the inventor declared it worth little for tax reasons. Or, if the inventor claimed the true value of the patent for taxes, they would buy out the inventor at cut-rate prices after taxes had ruined him.