I have a patent pending item. Can I assign this patent pending item to a corporation without tax consequence?

Answer 1

That depends. Did you pay anything for it other than your own time?

By assign, do you mean give? If so, then probably the only tax consequence would be a loss. If you mean sell, (for cash, stock, or other considerations such as forgiveness of debt, etc.) then you will most likely have ordinary income (i.e. not capital gains).