Patreon Tax Changes
Added 2020-05-31 05:38:45 +0000 UTCHey everyone! here is some news from Patreon on taxes.
Patreon must tax pledges now, the increase will most likely be very low or none for us.
We 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 set up the taxes on the pledges keeping you guys in mind and keeping it as fair as I could! I think patreon will be giving you guys a statement on it soon so keep your eyes out for it and you can find more information here
For now I'll just keep working away at the 4koma! Will be releasing it to you real soon!
