Infinite Livecode Pledge
MikeKerner at roadrunner.com
Tue May 24 10:56:44 EDT 2016
It is completely different. VAT comes off the top line, like an excise
tax. Income tax comes off the bottom line. Therefore, if a firm is
plowing funds into development, it can be at or below 0 on the bottom line,
therefore the tax on the funds would be zero, and depending on its previous
history, there may even be a federal rebate. Sales tax doesn't apply in a
case like this because you aren't getting a LC t-shirt, playing cards,
phone sleeve, etc. Then there is the difference between S-corps and
C-corps, and their bases and rates, which would further depress the tax on
On Tue, May 24, 2016 at 9:57 AM, Richard Gaskin <ambassador at fourthworld.com>
> Lagi Pittas wrote:
> > I have just paid my pledge and I was cheesed off that 20% of
> > my DONATION/PLEDGE has gone to the government.
> > If doing feature exchange is to save Kickstarter fees it certainly
> > doen't do that.
> It doesn't seem much different from how it works in the States - from the
> Kickstarter tax guide:
> In general, in the US, funds raised on Kickstarter are considered
> Sales tax may also be applicable in certain cases depending on the
> local rules. In general, sales tax applies only if the creator has
> sufficient connection to the location of the backer.
> Richard Gaskin
> Fourth World Systems
> Software Design and Development for the Desktop, Mobile, and the Web
> Ambassador at FourthWorld.com http://www.FourthWorld.com
> use-livecode mailing list
> use-livecode at lists.runrev.com
> Please visit this url to subscribe, unsubscribe and manage your
> subscription preferences:
On the first day, God created the heavens and the Earth
On the second day, God created the oceans.
On the third day, God put the animals on hold for a few hours,
and did a little diving.
And God said, "This is good."
More information about the Use-livecode