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A Florida Sub Chapter S corporation holds a trademark

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for 15 months and wishes...
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: Business Law
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Answered in 12 hours by:
5/16/2015
Business Lawyer: RGMacEsq, Attorney replied 2 years ago
RGMacEsq
RGMacEsq, Attorney
Category: Business Law
Satisfied Customers: 17,276
Experience: Licensed Texas General Practice Attorney
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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.
Hope that clears things up a bit. If you have any other questions, please let me know. If not, and you have not yet, please rate my answer AND press the "submit" button, if applicable. Please note that I don't get any credit for my answer unless and until you rate it a 3, 4, 5 (good or better). Thank you, ***** ***** luck to you!
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RGMacEsq
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