Selling music online
Is it legal for me to sell music (which I created) on one of those self-publishing websites, even if I am a minor? If so, how would I pay taxes on royalties?
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Read More Answered By: Ronald Mahurin |
Re: Selling music online Because you are a minor, you technically cannot be held to a contract, so you may have some issues when you sign up to sell your materials. You need not pay royalties unless you have an agreement with someone else to do so, for example an agent or business partner. All the income from the sale is yours. You will be required to pay taxes even if you do not make a lot of money. I suggest that you keep detailed records of the costs of materials for your music and other expenses so they can be deducted at tax time. Additionally, if you are working from home, you may be required to get a business license from the local municipality, and lastly you might be required to pay state sales tax as well. So again, it is important to keep records and good luck with your business.
Best Wishes
ron mahurin |
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