2 definitions found for this term.
Definitions are presented in the order source books were published (most recent first).
Income Tax Law, 2/e$75.00 – $120.00
The term "royalties" generally refers to amounts paid for the use of personal property (usually, but not always, intangible property), such as industrial, commercial, scientific, or artistic property. Payments for technical assistance are sometimes considered royalties if the technical assistance is related or ancillary to other royalty generating rights.
Money payable on the amount or duration of the authorized exercise of a right.