Under the IP assignment agreement, I sell IP for the software to a C-Corp. Under the agreement, the C-Corp pays for the software in 1 payment within 5 years, after the software is fully depreciated (3 years). The software is custom made, not off-the-shelf one. As far as I understand, I will have to pay only the personal income tax on the software price I get.
Will a nonresident alien have to pay any tax except income tax if he sells IP for software to a C-Corp and a C-Corp PAYS for the software after full depreciation?
Answers
You are operating a business. And therefore, you need a business licence that you can obtain from the Municipality of the place where you - or your business - does have its legal residence. They will send you the necessary documents that you will need to report and pay your B/O) Business and Occupancy tax, calculated as a % of your net revenue.
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Tax