Corporations That Licensed Intellectual Property to Restaurants Deemed Subject to North Carolina Income and Franchise Tax.
Mondaq Business Briefing › Nbr. 2004, May 2004
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Corporations That Licensed Intellectual Property to Restaurants Deemed Subject to North Carolina Income and Franchise Tax.
In a decision that proves North Carolina can tax both the cake and the recipe, the Secretary of the North Carolina Department of Revenue (the "Secretary") found that two nondomiciliary corporations ("Taxpayer 1" and "Taxpayer 2") that licensed secret food recipes, tradenames, trademarks, and other intellectual property to restaurant franchi...
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