Question: Pete is an engineering professor at State University Under his

Pete is an engineering professor at State University. Under his contract, Pete’s inventions while employed at the university are the property of the Board of Regents, but Pete receives an addition to his salary equal to one-third of the royalties received by the university on his patents. This year, Pete received $ 75,000 on top of his salary, as royalties allocated to him. Does Pete recognize this amount as ordinary income or capital gain?

View Solution:


Sale on SolutionInn
Sales1
Views62
Comments
  • CreatedOctober 30, 2015
  • Files Included
Post your question
5000