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Is paying for access to copyrighted library data a rental?
January 30, 2024
Q. Is the rental of copyrighted library data considered a rental of a copyrighted article? Or a sale? (Especially considering there is no perpetual access.)
A.
(Answered by IOFM's third-party tax experts)
The payment is not a purchase of "goods" because what your company is paying for is access to the copyrighted material. It your company is paying for a fixed time period of use, it will be reportable either on Form 1099-MISC in Box 1 as Rent.
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