§ 6050N. Returns regarding payments of royalties
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/usc/title-26/section-6050nA research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)Requirement of reporting Every person—
(1)who makes payments of royalties (or similar amounts) aggregating $10 or more to any other person during any calendar year, or
(2)who receives payments of royalties (or similar amounts) as a nominee and who makes payments aggregating $10 or more during any calendar year to any other person with respect to the royalties (or similar amounts) so received,
shall make a return according to the forms or regulations prescribed by the Secretary, setting forth the aggregate amount of such payments and the name and address of the person to whom paid.
(b)Statements to be furnished to persons with respect to whom information is furnished Every person required to make a return under subsection
(a)shall furnish to each person whose name is required to be set forth in such return a written statement showing—
(1)the name, address, and phone number of the information contact of the person required to make such return, and
(2)the aggregate amount of payments to the person required to be shown on such return.
The written statement required under the preceding sentence shall be furnished (either in person or in a statement mailing by first-class mail which includes adequate notice that the statement is enclosed) to the person on or before January 31 of the year following the calendar year for which the return under subsection
(a)was made and shall be in such form as the Secretary may prescribe by regulations.
(c)Exception for payments to certain persons Except to the extent otherwise provided in regulations, this section shall not apply to any amount paid to a person described in subparagraph (A), (B), (C), (D), (E), or
(F)of section 6049(b)(4).
(Added Pub. L. 99–514, title XV, § 1523(a), Oct. 22, 1986, 100 Stat. 2747; amended Pub. L. 104–168, title XII, § 1201(a)(12), July 30, 1996, 110 Stat. 1470.)
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U.S. Code
8 references not yet in our index
- Pub. L. 99–514, title XV, § 1523(a)
- 100 Stat. 2747
- Pub. L. 104–168, title XII, § 1201(a)(12)
- 110 Stat. 1470
- Pub. L. 104–168
- section 1201(b) of Pub. L. 104–168
- Pub. L. 99–514, title XV, § 1523(d)
- 100 Stat. 2749
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§ 6050N
Returns regarding payments of royalties
U.S.C.×2
Pub. L.Pub. L. 99–514, title XV, § 1523(a)
Stat.100 Stat. 2747
Pub. L.Pub. L. 104–168, title XII, § 1201(a)(12)
Stat.110 Stat. 1470
Pub. L.Pub. L. 104–168
Cites 9 · showing 6Cited by 2 across 1 source