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Sexually explicit films that would receive an X18+ rating under the National Classification Scheme can only be physically sold and exhibited in the ACT and the Northern Territory. Selling or publicly exhibiting a sexually explicit film in NSW carries the risk of a maximum fine of 100 penalty units ($27,500) or 12-months imprisonment for an …

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In the U.S., for instance, OnlyFans creators are subject to both income tax and self-employment tax. The self-employment tax comprises the Social Security tax (12.4%) and the Medicare tax (2.9%), totaling 15.3%. Additionally, the specific income tax rate will vary based on the creator’s taxable income after deductions.

Step 7: Stay Compliant. Once you’ve established an LLC, it’s essential to keep the LLC active and compliant. You’ll need to file annual reports and maintain proper accounting records. To file annual taxes in pass-through taxation, you must pass all profits or losses to the LLC members.

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