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Robert McEwen, Esq.
Robert McEwen, Esq., Lawyer
Category: Intellectual Property Law
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Experience:  Licensed Texas General Practice Attorney
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A Florida Sub Chapter S corporation holds a trademark

Customer Question

A Florida Sub Chapter S corporation holds a trademark for 15 months and wishes to fully assign (fully sell) the trademark. What is the tax consequences? Is the gain a long term capital gain taxed at 15 percent?
Submitted: 2 years ago.
Category: Intellectual Property Law
Expert:  Robert McEwen, Esq. replied 2 years ago.
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It's a Section 1231 gain or loss. Section 1231 gains and losses are netted against each other in the same manner as capital gains and losses, except that a net section 1231 gain is considered a capital gain, while a net section 1231 loss is classified as an ordinary loss.
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