How Do I Know Whether to Submit Tax Forms as a Business or Individual?

It depends on your bank account.

When it comes to collecting your earnings, the tax ID you submit has to match the bank account the money is being deposited in. So if you’re collecting from Songtrust using your business tax information, you’ll need to use your business bank account.

If you're linking your direct deposit to a business account, or want a check made payable to your business name, you should click “business” in the tax details of your Songtrust account. However, if you want your earnings to be deposited into your personal bank account, or have a check written to your name, you should choose “individual”.

If you are based outside the U.S., you should fill out a W8-BEN as an individual, or a W8-EN-E for a business. Both can be found on the right hand side of the tax documentation page in your Songtrust account.

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Disclaimer: This article is for educational and informational purposes only and not for the purpose of providing legal advice. The content contained in this article is not legal advice or a legal opinion on any specific matter or matters.