I am still fresh in the adult biz, and only recently have I really tried hard to put something together that I can generate some revenue with.
Anyway I just got an e-mail from Mafia.com with a W-8 FORM attached. I am no stranger to this form as I have had some successful main stream websites and have received a few checks from Google, Mamma, Text-Link-Ads and other programs. What really conserned me here was the second paragraph in the e-mail.
Quote:
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Foreign persons are subject to U.S tax at a 30% rate on income they receive from the U.S. The tax is imposed on the gross amount paid and is generally collected by withholding under section 1141 or 1142 (Reference W8 instruction attached) on that amount.
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Now this I have never heard of before!! Is this right?? Has any other international webmaster had to pay this ludicrous tax??
30% on Gross earning??
A bit curious here ...
Am I going to start funding the bailouts?? Will I get shares in GM & Bank of America??