- Membership
- Certification
- Events
- Community
- About
- Help
Reporting of electronic intellectual property
November 2, 2022
Q. If vendor provided their tax ID, but we paid the vendor for use of their intellectual property (photographs) to create a banner, are these intellectual properties subject to backup withholding in California even if the payee transmitted intellectual property through the internet?
A.
(Answered by IOFM's third-party tax experts)
Delivering the copyrighted items electronically does not change the tax treatment of the payment. The payment for use of the photographs is reportable to the IRS on…
Become A Member
Join IOFM today as a Professional, Business, or Enterprise Member — or upgrade your Starter Membership — to get access to this content and thousands of other Articles, Webinars, Expert Answers, Resource Downloads, and more!
Naturally, this forum doesn’t allow the kind of full information exchange necessary for the Institute of Finance & Management (IOFM) to provide legal advice and the Expert is not a tax attorney in any event. Please understand that the nature of our responses are limited by these constraints as well as the site’s Terms of Use. If you have further questions or suggestions about how we can improve IOFM, please let us know.
Ask The Expert is a member resource of IOFM and all advice provided is subject to site’s Terms of Use.
What are you waiting for?
