Are you aware of the country and state laws regarding third party billing agency? This is the legal domain of companies like Patreon and the one you suggest.
When I first heard about Patreon, I sent them a query about their compliance. They provided a detail response about their accounting practices, compliance with US IRS regulations for taxes (including submitting the appropriate Form 1099 reporting monies collected and paid to the artists), and more.
Various states have regulations on the span of time allowed between collection and payment, reporting of collection, possible taxes on services, and more.
Further, the matter becomes more complex when you consider many artists may reside outside the USA.
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timeasmymeasure
no subject
Date: 2015-09-09 12:35 am (UTC)When I first heard about Patreon, I sent them a query about their compliance. They provided a detail response about their accounting practices, compliance with US IRS regulations for taxes (including submitting the appropriate Form 1099 reporting monies collected and paid to the artists), and more.
Various states have regulations on the span of time allowed between collection and payment, reporting of collection, possible taxes on services, and more.
Further, the matter becomes more complex when you consider many artists may reside outside the USA.