phillytechnews: Confused why Microsoft using same name as Microsoft Surface Table
The Pennsylvania Department of Revenue issued a new letter ruling on May 31 (Sales and Tax No. SUT-12-001(pdf)) stating that a Pennsylvania user accessing cloud software over the Internet is subject to sales or use tax. The ruling states that accessing “canned software” on remote servers is subject to sales or use tax, as long as the user is based in Pennsylvania, no matter where the software or servers are located. The logic behind the ruling is that using cloud software from a Pennsylvania location is the same as the purchase of tangible personal property in the state.
The ruling appears to reverse a 2010 ruling that stated "access to software solely through the Internet is not a taxable transfer of software unless the server or data center resides in Pennsylvania". That ruling is no longer on the Department of Revenue's website.
King of Prussia-based InterDigital (NASDAQ: IDCC) saw its stock soar as much as 30% today after announcing the sale of some 1700 patents to Intel for $375 million in cash. This intellectual property represents only a portion of InterDigital's total trove of some 20,000 patents. The patents sold cover 3G and LTE wireless technology and WiFi connectivity.
Last year, InterDigital considered selling its entire patent portfolio, but wasn't satisfied with the bids it received.
“This transaction, which involves a small portion of our overall patent portfolio, marks an important milestone of InterDigital’s stated strategy of expanding the monetization of its large and growing intellectual property portfolio", said Scott McQuilkin, Senior Executive Vice President, Strategy and Finance for InterDigital, in a statement.
Separately, InterDigital also announced today that it was doubling its share repurchase program to $200 million.
Daily Links 6/18/2012: Oracle reports earnings early; Verizon launches FiOS Quantum with 300Mbps down
Don’t Forget: TechCrunch Is In Philadelphia Tomorrow (TechCrunch)
Oracle Reports Q4 GAAP EPS Up 11% to 69 Cents; Q4 Non-GAAP EPS Up 10% to 82 Cents (Marketwire)
GAAP revenue up 1%. Oracle moved earnings release up from Thursday, as reports surfaced that a key exec (said to be North American sales chief Keith Block) is leaving company. Block's emails critical of Mark Hurd and Sun's hardware business came out during HP trial.
Oracle's sales and profit rise in latest earnings report (San Jose Mercury News)
Yep, it’s a tablet: Microsoft introduces the Surface (paidContent)
Verizon debuts FiOS Quantum with crazy 300Mbps download speeds (VentureBeat)
Ivan Seidenberg Joins Perella Weinberg Partners as Advisory Partner (Business Wire)
GSI in the New York state of mind (GSI Commerce Blog)
Oracle reportedly revealing 'key resignation' this week (ZDNet Blogs)