Payouts to our international community of influencers are growing, so it’s time to talk about taxes. Boo. Hiss. Our CPAs looked into the rules and confirmed: payouts to international influencers are subject to United States taxes.
Quirky must withhold a percentage of your payout based on the applicable tax treaty, if any, between our countries. Percentages withheld under tax treaties will generally range between 5-15% and are submitted directly to the Internal Revenue Service. Please note, if no treaty exists between the United States and your nation, Quirky must withhold 30% of the payout amount for payment to the Internal Revenue Service.
So, here’s how it’s going to go down. If you’re the lucky first person in your entire country to receive a Quirky payout, you’ll need to give us a week or two to figure out if a treaty exists. You can help us by shooting us an email if you know you’ll be the first in your country to request a payout. We’ll do our best to get a head start on the research.
2 Comments
Mark | 10/18/2010 4:03 PM
I’ll probably start asking for payouts rather than spending everything on Quirky stuff soon, so I’d really appreciate an email with any guidance for UK people, hopefully there’s a treaty in place – we do both speak nearly the same language, after all
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Ian Patrick Co | 10/20/2010 6:28 AM
Just visit this table for a rough guidance on the withholding tax that you’re influence would be subjected to. http://www.ofii.org/docs/Withholding_Rates.pdf