Bellular
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(USA ONLY) Patreon July 1st Sales Tax Compliance & Us
🕑 Added 2020-05-29 15:04:16 +0000 UTCHey everyone!
Okay, so a Patreon update. The good news is that this only applies to people in certain US states, and of those states, it’s to varying degrees. What’s even better is the lengths Patreon themselves have went to in helping creators deal with this change, and minimise any potential tax burden.
So, what’s happened? A bunch of US states have decided that various Patron things fall under sales tax. This kicks in on July 1st 2020. Patreon is handling compliance on it, which could lead to a minor increase in purchase price for tiers. The good news is that they’ve allowed creators to segment what percentage of a tier’s total value is for each part of that tier. By doing that, we’re able to ensure you are taxed as little as possible, while, of course, still being fully compliant.
Here's Patreon CEO Jack Conte's video on the topic: https://www.youtube.com/watch?v=CvOtULx_cK0
Overall this should be fairly minor, but if you are in a state that’s more heavily hit, be sure to hit us up.
Thanks for reading, and be sure to message us if you’ve got any questions.
Comments
Here in Washington hope it doesn't affect me to much.
John Dwyer
Canadian, so no worries here. Oddly enough, coming into force on our nation's birthday.
