Taxation and revenue models
There are a few different options for taxing music royalties, from which the music creator can choose the one that best suits their career and life stage. It is worth exploring the taxation options for both your current and future situation.
Operating models for taxation of copyright royalties
If the royalty payments for your music are relatively small or you want a simple model, it is advisable to use a tax card. You can use tax card whether you make music for yourself or for other artists. Please note that you need a separate tax card for royalties.
You can direct your personal Teosto royalties to your business. Through the business name, you can invoice composing, performances and other work.
You are a Teosto member as a music author and publisher. You and your company can sign a publishing agreement on your music so that a part of your distributions is paid to the publishing company.
You are a Teosto member as a music publisher, but you also receive relatively big personal royalty payments. In this model, you can transfer your personal share of royalties to the limited company.
The company model suits professional music authors for whom music is an important source of income. In this model, you must have your own limited company.