Please note: Symphonic and its affiliates do not provide tax, legal, or accounting advice. This information is for general purposes only. We recommend consulting a tax professional.
Beginning January 1, 2027, Symphonic will handle applicable tax withholding directly for each SplitShare participant.
- Withholding will be calculated after earnings are split, using each participant’s own share and tax information.
- This change applies to royalties posted to your account on or after January 1, 2027.
This brings more of the process directly into SplitShare and simplifies administration for clients paying collaborators.
What does this mean if I pay collaborators through SplitShare?
Symphonic will calculate and handle any required withholding on your collaborators’ SplitShare earnings directly.
Any applicable withholding on the share you retain will be calculated separately, using your own tax information.
What does this mean if I receive SplitShare payments?
Symphonic will calculate any applicable withholding on your share of the earnings using your own tax information.
The amount withheld, if any, will depend on your individual tax circumstances.
What is backup withholding?
Backup withholding is tax that must be withheld from certain payments in specific circumstances, including when required taxpayer information is missing or incorrect.
Keeping your tax information complete, accurate, and current helps us determine the appropriate treatment for your earnings. Depending on your tax status, other withholding rules may apply.
Does backup withholding apply to people paying collaborators too?
It can. Both clients paying collaborators and collaborators receiving payments may be subject to backup withholding when the applicable requirements are met. Each participant’s withholding is assessed separately, based on their own information and earnings.
Does completing my tax information mean nothing will be withheld?
Not necessarily. Complete and accurate tax information allows Symphonic to determine the appropriate withholding for your circumstances, including any applicable exemption or reduced rate.
Some withholding may still be required even when your information is complete.
What do I need to do?
Before January 1, 2027, review your payment and tax details in your Symphonic account and complete any outstanding requirements. Please also keep this information current if your circumstances change.
To review your details, log on to SymphonicMS, then go to Account Name ► Payment & Tax Details.
Where can I get help?
If you need help completing your account information or understanding how the updated process works, contact our support team. For advice about your individual tax obligations, please consult your tax advisor.
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