taxes

for a royalty payment does anybody now what the tax consequence will be, is it considered windfall?

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Permalink Reply by Rozzy on November 6, 2008 at 17:52
This is a good question. Stand by someone will have an answer. In the meanwhile check out this website...
It is the IRS website... If you do not find the information continue to search the www.irs.gov website. I will continue to check this thread, because I would like to know about tax consequences. Again, good question.

http://www.irs.gov/taxstats/article/0,,id=183386,00.html
Crude Oil Windfall Tax, Second Quarter, 1984
This information is dated, but it is the latest information on this subject.

2007 Schedule PH (Form 1120)
U.S. Personal Holding Company (PHC) Tax
... attach schedule) 15c 15b 1616 Royalties (other than mineral, oil, gas ... mineral, oil, gas, or copyright royalties) 1717 Annuities 18a 18a Rents ... to mineral, oil, and gas royalties (attach schedule) 2020 Copyright royalties 2121 Produced film rents 2222 ...
http://www.irs.gov/pub/irs-pdf/f1120sph.pdf - 236.8KB

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