On 29 July 2015, U.S. Congressmen Charles W. Boustany R-LA and Richard Neal D-MA release a discussion draft for legislation to introduce an innovation box (patent box) regime in the U.S.
If enacted, the Innovation Promotion Act of 2015 would allow for a 71% deduction of innovation box profits resulting in an effect tax rate of 10.15% on such profits. Eligible profits are equal to gross receipts from qualified intellectual property (IP) less cost of goods sold (COGS) and expenses, multiplied…