21 Jun Crowdfunding Tax Implications
Our Tampa office has been working recently with clients that have been using crowdfunding to capitalize their business. Many do not understand that there are tax implications to crowdfunding. One unknown fact is that if you provide a tangible product in exchange for donations you are liable to pay state sales tax in Florida on the retail amount of that tangible product (perk). There are other implications, and business owners using crowdfunding are often surprised. We at Unbehagen Advisors can provide you with the information to keep you legally compliant with both the state and federal tax authorities. We specialize in small business taxation!