Royalty Payments

Royalty Payments

Royalty Payments

Royalty Payments are tax reportable payments.  Use account code 28531 Royalty Payments.  

 

Payments for royalties to foreign individuals or entities are subject to U.S. taxation.  If you have questions about royalty payments or payments for software that are being made to a foreign individual or a foreign entity, contact Joy Germack, Sr. Tax Analyst, at 346-0782.  She will need to be notified in order to initiate any applicable foreign payment tax withholding.