On October 5, 2004, the Intelectual Property Owner's Association reported that the Conference Committee mark-up of the 2004 tax bill "appears to eliminate deductions for most contributions of IP to universities made after June 3, 2004." (Yes, appearances can be deceiving, especially when it comes to the tax code.)
In unrelated tax news, the European Union's highest court ruled Tuesday that Greece can continue to tax its trademark liqueur ouzo at half the rate of other alcohols. Anastasia Georganda, director of the Union of Greek Distillers, said that raising tax rates on her country's signature liquor "would have been very negative for a drink like ouzo because it's a people's drink." Ouzo is protected by the EU as an exclusively Greek product. Stin ygia sou!