Tax Patent

A tax patent is a patent that discloses and claims a system or method for reducing or deferring taxes. Tax patents have been granted predominantly in the United States but can be granted in other countries as well. They are considered to be a form of business method patent. They are also called "tax planning patents", "tax strategy patents", and "tax shelter patents". In September 2011, President Barack Obama signed legislation passed by the U.S. Congress that effectively prohibits the granting of tax patents in general.

Famous quotes containing the words tax and/or patent:

    I find nothing healthful or exalting in the smooth conventions of society. I do not like the close air of saloons. I begin to suspect myself to be a prisoner, though treated with all this courtesy and luxury. I pay a destructive tax in my conformity.
    Ralph Waldo Emerson (1803–1882)

    This is the patent age of new inventions
    For killing bodies, and for saving souls,
    All propagated with the best intentions.
    George Gordon Noel Byron (1788–1824)