Neverlucky

A word about taxes

Added 2020-05-28 19:03:24 +0000 UTC

Hello everyone,

you`d probably rather hear about the new part and it`s going to be out in a couple of days:)

But for now I have to inform you about something far more boring: Taxes

I`ve been asked by Patreon to inform you first, but you will also receive an official e-mail on June 1. from Patreon.

A quick TLDR(too long; didn`t read) for those of you who are bored already and want a short version:

Coming July you might see a few Cents extra charged in taxes on your pledge. This is tax for your local government, not Patreon fees.

The longer version:

Due to new laws, Patreon is required to collect taxes on some pledges starting July 1.

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.

So if you are in a country who requires taxes you might see a small additional tax on your pledge bill starting from July 1.

As previously stated you will also receive and e-mail on June 1. informing you about this (if you don`t get an e-mail, you probably live in a country where they don`t tax pledges)

And that`s it for now. See you on the 31. when the new part comes out.

Neverlucky