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New Sales Tax Laws and Raging Swan Press
🕑 Added 2020-06-01 07:23:06 +0000 UTCHello everyone! Happy June!
I appreciate this probably isn't the most exciting post you'll read today, so I've kept it as brief as possible.
I wanted to give you an update on some changes we’ll be seeing which may affect some of your pledges. Due to new laws passing in several countries and US states, Patreon is required to start charging sales tax on some pledges starting July 1st.
Less than half of you 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 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. I hope to be able to report back soon with a more detailed view of what is and isn't taxable in various parts of the world.
If you’re in a location where sales tax will be required, you'll get 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 questions, you should be able to find answers here. If you still have questions, the best place to get an answer is from Patreon’s customer support team, here, as--shockingly--I am not wise in the ways of taxation laws throughout the world.
Thank you for supporting Raging Swan Press. Good luck with your games!
