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what is the tax rate on royalty payments (income)?
- TaxGuruLv 41 decade agoFavorite Answer
If you are a US person, then the US will tax it along with your other income. Royalties usually are taxable as ordinary income and not as capital gain. If you have a basis (cost) in the royalty-producing property you may be entitled to deductions for amortization or depletion.
If you are neither a citizen nor a tax resident of the US -- in other words, you file a 1040NR rather than a 1040 income tax return -- then the tax rate may be anywhere from zero to 30 percent, depending upon your country of residence. In that case, no deductions would be allowed.
- ?Lv 64 years ago
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RE :What is the tax rate on royalty payments (income)?
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- misslabeledLv 71 decade ago
Same as all other income.