Payouts to Creators of Intellectual Property
Jeff Myers 15 Jun 1998 15:13 EST
Terry:
In general, since royalties are not payments for services they are not
disbursed through payroll systems. This is consistent with IRS regulations
for handling royalties. At SIUC, we voucher the payments (through our
General Accounting and Disbursements offices) which works essentially as an
accounts payable function. Subcodes in our accounting system identify the
payments as ones which should be reported to the IRS via a 1099. Hope this
helps.
Jeff Myers
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| Jeff Myers
| Office of Research Development and Administration
| Southern Illinois University
| Carbondale, Illinois 62901-4709
| (618) 453-4543
| Fax 453-8038
| http://www.siu.edu/worda/tech/
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