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Author Topic: Payouts via Adobestock.com "US tax resident or not..."  (Read 383 times)

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wds

« on: November 30, 2018, 22:20 »
0
I have always done my payouts via Fotolia website. I figured I'd try on Adobestock. However, I got a question which I have never gotten on Fotolia.com
Specifically, it asks you to choose between "Are you a US tax resident" or not. What are the implications of the answer to this question?


« Reply #1 on: December 01, 2018, 00:32 »
0
I am guessing that withholding (or not) as well as reporting income to the US IRS are the implications.

« Reply #2 on: December 01, 2018, 01:09 »
+1
if you live in the US, select US Tax Resident. Otherwise you may be subject to a withholding tax (I think it is 28% but not sure). in the major non-western nations, you will have to pay the tax. if you live in a western nation like the UK you can avoid the tax because the US has tax treaties with those countries.

Uncle Pete

  • Great Place by a Great Lake - My Home Port
« Reply #3 on: December 01, 2018, 13:20 »
+1
I have always done my payouts via Fotolia website. I figured I'd try on Adobestock. However, I got a question which I have never gotten on Fotolia.com
Specifically, it asks you to choose between "Are you a US tax resident" or not. What are the implications of the answer to this question?

Let me add, if you lie or try to avoid taxes, you could be fined or put in prison. Is that enough implication?


 

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