Taxing NFTs

What is happening? NFTS are growing.  Reno, Nevada Mayor is eying selling an NFT of a city sclupture.  It is estimated that NFT sales last year were $25 Billion.

Why is this important? A digital tax on $25 Billion in sales sounds good to revenue seekers.

How will this be important? The tax policy conundrum is that NFTs can be anything from music to a ticket to an event to art. Keep our eyes peeled as Washington State is the only state that is addressing the issue and will issue guidance later this year.

Route Fifty | Bored Apes, Texting Robots and the Latest Digital Taxation Conundrum