06-21-2023, 04:15 PM
(This post was last modified: 06-21-2023, 04:18 PM by OutsiderFan.)
Question: Does the collective have to pay taxes on money it collects?
It seems evident those selling their NIL will have to pay taxes on their income from collectives.
One thing the collectives could do is set up as joint ventures if they don't want to pay taxes on money they collect. But people running them may want to skim some off the top for themselves. If they do, then that would be taxable income I would think.
It seems evident those selling their NIL will have to pay taxes on their income from collectives.
One thing the collectives could do is set up as joint ventures if they don't want to pay taxes on money they collect. But people running them may want to skim some off the top for themselves. If they do, then that would be taxable income I would think.