Knowledge Base/Selling: How does it work, and how do I get paid?/Royalty Payments

How do I get paid? What do I need to do?

John Boudreaux
posted this on May 12, 2010 05:56

How do I get paid?

Account balances are paid monthly in full within 15 days of the end of the month.  If the 15th is a weekend or a holiday, you will be paid on the next business day.  If you would like to have your checks withheld until you reach a certain dollar amount (to offset check cashing fees), you can set this with your other payment info on the Payment Info form. Payment through PayPal is also an option.

PLEASE NOTE:

If you change your payment information on or after the first day of the payment month, you will not be paid until the following payment cycle.

 

Choosing a payment method

You have four choices for receiving payments:

  1. Check
  2. PayPal
  3. Wire transfer
  4. WebMoney

Check

If you prefer to receive your payment via check, please be sure that your mailing address is always current. An incorrect payment address can result in delayed payments.  If check(s) are returned due to an invalid address, your member account(s) will be placed on hold until the mailing information on your account(s) are corrected.

PayPal

If you prefer to receive your payments via PayPal, please be sure that the payment email address you provide is the same email address that is linked to the PayPal account you use.  If a payment is returned due to an invalid PayPal address, your member account(s) will be placed on hold until this information is corrected.

Wire

If you prefer to receive your payment via wire transfer, please be sure that you carefully complete the required fields in your Payment Information. If you provide incorrect information and your wire is returned, we will deduct the $20 wire fee as well as any other bank fees included with the return.

WebMoney

You must ensure that you provide us with the correct purse number and that your account is set up to receive USD in order for us to send you payment via Webmoney.  TurboSquid added Webmoney as a payment option as it offered an alternative electronic payment method other than Paypal. Please note that in order to pay our members via Webmoney we must first purchase WebMoney funds, and keeping our account funded with WMZ currency can be difficult.

NOTE:If payments or tax documents are returned due to any type of insufficient or invalid account information such as invalid mailing and/or PayPal address, your payments will be withheld until the next payment cycle or until the account has been properly updated by the Accounting Department. 
 

Payment information

Please be sure that the following fields are completed in order for payments to be processed.

Make payment to: ______________  (Enter first and last name of member)

Company: ______________ (Enter only if appliable)

Address Line 1: ______________  (Street Address)

Address Line 2: ______________ (Apt, Suite, Unit number, etc.)

City: ______________ (Enter only if applicable)

State/Province: ______________

Zip/Postal Code: ______________

Telephone: ______________

Country: ______________

NOTE:

Please do not enter "Country" into any other space other than the designated "Country" field.  This will duplicate the country in our system and make your address invalid.


I am a non-US resident.  What do I need to do to get paid?

If you are a non-US resident, you must choose a documentation status in order to be paid.  Non-US residents are subject to a 30% tax withholding rate only for purchases made by customers who are located in the United States. However, if you are a resident of a country that has a tax treaty with the United States, you may be eligible for a reduced withholding rate.  To take advantage of these treaties, you must have proper documentation on file with TurboSquid.


There are three choices for documentation status: Full Documentation status, Basic Documentation status, and No Documentation status.  The status you choose will determine which tax withholding rate will be applied to your payments. Please review these statuses below to determine which best fits your circumstances.

 

FULL DOCUMENTATION STATUS

In order to be compliant and receive your country's tax treaty rate on U.S. sales, you must submit to TurboSquid the documents listed below. Please note that we must receive these by mail.  We are required to have originals on file, so we cannot accept faxed, emailed, or any other digitally-submitted documentation.  Documentation can be mailed to:

TurboSquid, Inc. 
ATTN: Accounting
935 Gravier, Suite 1600
New Orleans, LA  70112

Once we receive proper documentation in the mail, we will update your account so that you can start receiving royalties at your country's treaty rate.  Be sure to include your account number or login name so that we can locate your account. 

If you choose Full Documentation status while you are waiting for your documentation, we will not be able to pay you.  If you wish to continue to get paid until you submit your documentation, choose Basic or No Documentation status.  If you choose either of these statuses, you will be subject to a 30% withholding rate.  Once you have mailed all of your documents, please update your account to Full Documentation so that you can receive the treaty correct rate.

If you do not wish to be paid while you are waiting for your documentation, select Full Documentation, and we will hold your payments until we receive the required documentation.  We can hold your payments as long as you submit your documentation within the same calendar year.  Those held payments will be paid at your country’s treaty rate once you are compliant.

Required documentation for Full Documentation status:

  1. Original W8 fully completed, including section 10.  This form can be obtained here.
  2. Copy of IRS letter, showing ITIN/EIN or copy of U.S.-issued Social Security Number

If you cannot provide any of the documents listed above, please choose No Documentation status.

 

BASIC DOCUMENTATION STATUS

You can choose Basic status if any of the following apply to you:

  1. You live in a non-tax treaty country.  This means you do not qualify for any treaty rate.
  2. You do not have a U.S.-issued Social Security Number or ITIN/EIN or
  3. You have applied for an ITIN/EIN and wish to be paid while you are waiting.
  4. You do not wish to apply for a U.S.-issued Social Security Number or ITIN/EIN

Please keep in mind that under this status, U.S. sales will be subject to the maximum withholding of 30%.

Required documentation for Basic Documentation status:

W8 fully completed, including section 10.  This form can be obtained here.

Unlike Full Documentation, we can accept faxed and/or documentation submitted through support tickets.
Our fax number is  +1 (205) 278-8506

 

NO DOCUMENTATION STATUS

You should choose this status if any of the following apply to you:

  1. You live in a non-tax treaty country.  This means you do not qualify for a treaty rate.
  2. You do not have a U.S.-issued Social Security Number or ITIN/EIN or
  3. You have applied for an ITIN/EIN and wish to be paid while you are waiting.
  4. You do not wish to apply for a U.S.-issued Social Security Number or ITIN/EIN
  5. Please keep in mind that under this status, U.S. sales will be subject to the maximum withholding of 30%.

 

For more information on our withholding policy or how to obtain an ITIN, please review some of our applicable Knowledge Base entries:

What is TurboSquid’s Withholding Policy for sellers from tax treaty countries? 
For Foreign vendors, which sales are subject to the 30% tax withholding? 
Tax Treaty 
Why do Foreign Vendors need ITIN's (Individual Tax Identification Number)? 
What if I don't turn in an ITIN? 
How do I get an ITIN?

 
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