The taxation of computer software is complex, confusing, and in some circumstances, uncertain; although self-created computer software is routinely sold today, especially with the significant increase in the number of ‘‘apps’’ that are created for mobile devices, there is surprisingly little statutory or regulatory guidance on the proper way to tax the sale of such software.
In general, the taxation of software can vary greatly depending upon a multitude of factors, including, for example, whether the software was acquired or developed, and if developed, whether it was developed for internal use or developed for sale in the ordinary course of business, as well as whether the software was sold or licensed.1 This article focuses on the tax aspects of the sale of computer software and related intellectual property by the person whose personal efforts created such IP rights.
Originally Published in Daily Tax Report, 60 DTR J-1 - March 28, 2013.
Please see full Article below for more information.
Firefox recommends the PDF Plugin for Mac OS X for viewing PDF documents in your browser.
We can also show you Legal Updates using the Google Viewer; however, you will need to be logged into Google Docs to view them.
Please choose one of the above to proceed!
LOADING PDF: If there are any problems, click here to download the file.
Topics: Capital Gains, Classification, Copyright, Income Taxes, Patents, Sale of Assets, Software, Trade Secrets
Published In: General Business Updates, Intellectual Property Updates, Science, Computers & Technology Updates, Tax Updates
DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.
© Levenfeld Pearlstein | Attorney Advertising