Taxes: what SplitPartner does and doesn’t do

SplitPartner isn’t a tax advisor, and this isn’t tax advice. Here’s how things are set up so you know what to ask a professional.

Income tax

Each partner and each affiliate is responsible for income tax on their own share. SplitPartner doesn’t withhold tax. Keep a record of what you receive; your Stripe dashboard has the totals.

Tax forms

Stripe collects tax details when you set up payouts, and may send you a tax form (in the US, a 1099) when you pass the IRS reporting limits.

Sales tax

Under the terms, SplitPartner, as the platform that collects payment, is responsible for sales tax where it’s required. Don’t add sales tax to your price. Checkout doesn’t add sales tax at present. When tax is collected on a sale, it shows on that sale and comes out before the split.

Partnerships between you

How your partnership is treated for tax purposes (for example, whether you’re each sole proprietors receiving your own share) is between you and your tax professional. SplitPartner sends each partner their share separately, which keeps each person’s records simple.