Whoever is the recipient of the funds ( the individual or company ) will be issued a 1099 at the end of the year. That 1099 will reflect the full gross amount raised, as compliant with federal law. We highly recommend that you work with a tax professional to advise you on how to take the appropriate fee deductions and handle the funds from a tax perspective.
Stripe handles transactions conducted through Seed&Spark. They are responsible for filing and mailing 1099-K's for all US-based creators who meet both of the following thresholds in the current tax year: More than $20,000 in gross sales and more than 200 transactions. If you meet these thresholds, you will be receive a 1099 form at the address you provided us. If you have not received a 1099-K by February 19th, if you lost your copy, or think the information on your form is incorrect, please contact us.
Even if you don’t receive a 1099-K, the funds you raise on Seed&Spark are still subject to taxes. In all financials matters around your campaign we recommend working with a tax professional.