Royalty Payment Processing - L&S

In this document, the L&S business office provides information for the benefit of L&S departments, programs, faculty and staff concerning payment processing for payment of intellectual property (such as royalties). L&S follows UW-Madison policy and procedure, which adopts the IRS policy definition of a "royalty" as something paid to obtain intellectual property, or to use intellectual property or rights to such property.

The IRS classifies the following expenditure terms similarly: Royalty, Patents, Licensing, Copyrights, Rights, Trade names, Trademarks, Intellectual, Permissions. 

Please use the following link on the UW Accounting Services web site and scroll down to Royalties Payments (Tax Withholding and Reporting)

Royalties - Definition, Payment Processing and Tax Withholding

Royalty Payments (Tax Withholding and Reporting)



Keywords:
Royalty, patents, licensing, copyrights, rights, trade names, trademarks, intellectual, permissions 
Doc ID:
56557
Owned by:
Michele G. in L&S KB
Created:
2015-09-18
Updated:
2026-02-26
Sites:
L&S KB