Tag Archives: sales tax

Crowdfunding Comes With Tax Issues

Bad news, crowdfunders. Tax professionals are saying that the Internal Revenue Service (and probably your friendly State tax collector) believe that all moneys you receive from crowdfunding is taxable income. Guess what? That DVD reward, it’s considered a “sale” and … Continue reading

Posted in accredited investor, balance, Charity, checkbook, Congress, Crowd Fund Act, Crowd Fund Act of 2012, Crowd Funding At the Margins, Crowd Funding Platforms, Film, Funding Portals, Investments, Jobs, Legislative Intent, SEC, Small Business, technology, VC, Venture Capital, Wall Street | Tagged , , , , , , , , , , , , , , , , , | Leave a comment

Crowdfunding Tax

States are now hip to collecting sales tax on rewards-based crowdfunding. Washington State has issued a release that says that “the project creator is required to collect sales tax on donations if you provide retail services (such as meals), digital … Continue reading

Posted in Charity, Congress, Crowd Fund Act, Crowd Fund Act of 2012, Crowd Funding At the Margins, Crowd Funding Platforms, Film, Funding Portals, Investments, Jobs, Legislative Intent, SEC, Small Business, Tax, Venture Capital | Tagged , , , , , , , , , , , , , , , , , , , , , , , , , | Leave a comment

States Are Hip to Crowdfunding

The state revenue departments have started trolling Kickstarter. Serellan LLC, an indie video game developer based in Seattle, Washington, and the publisher of “Takedown,” a special ops game, received a letter from the Washington Department of Revenue that noted the … Continue reading

Posted in Crowd Fund Act, Crowd Fund Act of 2012, Crowd Funding At the Margins, Film, Funding Portals, Investments, Jobs, Legislative Intent, Small Business, States, Tax | Tagged , , , , , , , , , , , , , , , , , , , , , , , , | Leave a comment