Florida Law Review Forum

Calvin H. Johnson
Organizational Capital: A Comment to Professor Kahng
Response to Lily Kahng, Taxation of Intellectual Capital

In her article, Taxation of Intellectual Capital, Professor Lily Kahng has proposed to capitalize the costs of research and development, and worker training and amortize those costs over a tax life, provisionally set at five years. She would capitalize one half of the cost of advertising and top management compensation and similarly amortize the costs over five years. Professor Kahng cites the quip, attributed to Keynes, that “it is better to be imprecisely right than precisely wrong.” Read More.