dedpassm
patreon
Update of Sales Tax (From Patreon)
🕑 Added 2020-06-19 17:25:19 +0000 UTCHey everyone!
Patreon just informed us all that they're going to start integrating sales tax with the monthly pledges. I'm not that great at explaining stuff myself, so I'll just copy and paste from their example post:
" I wanted to give you an update on some changes that we’ll be seeing which may affect some of your pledges. Due to new laws passing in several countries and US states, Patreon will be required to start charging sales tax on some pledges starting July 1st.
Less than half of all patrons will be charged sales tax, and for most, the amount will be very small. For example, sales tax rates in the US range from 4% to 11%, so on a $5 pledge, that would be between 20 cents and 55 cents.
Whether or not you will be charged sales tax depends on your location, and what is considered taxable there. Not every pledge is taxable, not all benefits are taxable in every location, and sometimes only a fraction of a pledge will be taxable. The money that Patreon collects as a result of these laws are paid directly to local governments.
I’m working closely with Patreon to ensure I’m able to save you as much money as possible when it comes to sales tax - which is not something that’s possible with other platforms.
If you’re in a location where sales tax will be required, you should expect to receive an email from Patreon with more information about this very soon, but I wanted to make sure you were aware of these changes way ahead of July 1st when they go into effect. "
If you have any questions; the FAQ is right here
Thank you all for your continued support! It means the world to me <3
- Nash
Comments
K. Nash
Not much on my end; I just have to adjust the tiers as needed. It's mostly dependent on the Patron themselves and where they live. :)
Fel Passm
what does this mean for you, income-wise?
