rufflenecks

Patreon digital taxing changes going live July 1st

Added 2020-05-28 17:43:03 +0000 UTC

Do note that Patreon is changing taxation (in US) on July 1st and sending information about it on June 1st. I don't know what it entails exactly, because Patreon's messaging to Creators is only 3 days better than to Patrons x)

That said, they recommended identifying reward tiers properly based on what kind of benefits there is. This, in practice, means that for taxation purposes;
- All tiers have "Patron messaging" which has no value per se.
- Silver (or above) have approximately 10 usd set as value of digital downloads.
- Tiers above Silver have general support as the remaining value as there aren't any actual reward beyond.

For everyone outside US (or in US), have leather pants in progress as "no value Patron messaging"! ^^

With luv,
Ruffleneck

Edit: Patreon's FAQ about it: https://support.patreon.com/hc/en-us/articles/360043054911-New-Sales-Tax-Requirements-effective-July-1st-2020