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Stan.Store – Sales Tax Update [Feb/2024]

Stan.Store Tax Update - LovedByCreators https://www.stan.store/?ref=LovedByCreators&
Stan.Store Tax Update - LovedByCreators  https://www.stan.store/?ref=LovedByCreators&

1. Do I need to enable the sales tax feature?

We recommend you consult with a tax professional to determine whether sales tax is required for your business.

2. Where is my 1099?

Stripe automatically sends out 1099 forms when a Creator sells $20k or more across 200 transactions.

  • This also means that Stan does not report income for any Creators below this threshold!
  • That being said, for any Creators below this threshold, although we cannot send an official 1099, we can send a draft copy that you can use for your own records or to help with conversations with a tax professional.

3. Does Stan remit my taxes for me?

No, you would need to work with a tax professional to file and pay your taxes to the appropriate tax governance depending on your region/country.

  • At this time Stan does not act as a MOR (Merchant of Record).
  • We partner with Stripe to process the payments on behalf of the Creators and, if enabled, collect sales tax.

4. Where can I find record of any sales tax applied to my transactions?

In your Income tab! Here’s how to find it:

Stan.Store Tax Update - LovedByCreators  https://www.stan.store/?ref=LovedByCreators&
  1. Head to your Income Tab
  2. Click on theDownload CSV button to the top right of your transactions
  3. This will include any conversions, exchanges, or taxes listed!

How To Collect Sales Tax with Stan

❗️NOTE❗️ Stan.Store tax feature is currently available in US, CA, UK, AU, NZ and all EU. If you your country isn’t included above but you’re interested in using this feature, please reach out to Friends@Stanwith.me to let us know!

Learn how you can calculate tax using Stripe with your Stan Store:

Based on your customer’s address and the products you sell, Stripe determines the accurate tax calculation, with rooftop level precision in over 11,000 tax jurisdictions (country, state, county, city, district).

In general, most transactions are taxable in the jurisdiction where the customer resides. Stripe Tax assumes the sale of most goods or services to be taxable unless specifically exempted by a taxing authority.

Enabling Tax Collection on Stan

  1. Login to Stan and click on the Settings tab in the bottom-left corner
  2. Click on the Payment/ Currency Settings and scroll down to the section where it says Enable Taxes
  3. Next, toggle it on!
Stan.Store Tax Update - LovedByCreators  https://www.stan.store/?ref=LovedByCreators&
  1. From here, you’ll need to decide how you’d like to charge your taxes. This is completely up to you!
  • Inclusive ➡️ When taxes are already included in the total. No surprise fees at checkout.
  • Exclusive ➡️ When taxes are added to the subtotal at checkout. This is most common in the US.
  1. Next, enter in the address of where you will be filling your taxes from.

How to export your collected tax information

  1. Log into your Stan store
  2. Click Income tab from the left side
  3. Click Download CSV from the right side of your sales list
    1. You can use the filters at the top of your list to narrow down the list you’d like to export.
Stan.Store Tax Update - LovedByCreators  https://www.stan.store/?ref=LovedByCreators&

Tax Collection Based on Country

United States:

Please note: Alaska, Delaware, Montana, New Hampshire and Oregon do not have sales tax, so you will not have the ability to enable the feature!

If you are located in the United States, you will only need to charge tax in the state you are registered.

EU Countries:

If you’re located in the EU, you will be registered as an EU OSS as well as for your specific country.

Canada, Australia, New Zealand, United Kingdom:

  • If you are located in Canada, you will be charged HST where applicable and GST everywhere else
  • Australia, New Zealand, or the UK, you will be charged Federal tax.

I Need to Register to Another Tax Region

If your business is registered in more than one tax region, we can manually add the additional tax region to your Stan store. Simply reach out to us at friends@stanwith.me and let us know what state and country you need to be added to. If possible, please include the address.


Tax Code Used for Tax Collection on Stan

When collecting taxes, there are many tax codes that are available to use. We are currently using the following tax code  txcd_10000000 to collect taxes on Stripe.

For more information on tax codes, visit Stripe here.

For more information on Stan.Store, read our 2024 Updates Stan review here

Stan.Store Tax Update - LovedByCreators  https://www.stan.store/?ref=LovedByCreators&

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