Pennsylvania and Washington become the first states in the U.S. to tax NFTs
Chain Catcher news, Pennsylvania and Washington have explicitly listed NFTs as digital assets subject to sales tax and use tax.
The actions taken by Pennsylvania and Washington regarding the taxation of NFTs are guidelines for interpreting existing laws rather than creating entirely new legislation. This means they can be applied retroactively, and a spokesperson for the Pennsylvania Department of Revenue stated that it has the authority to tax NFTs from 2016.
Washington's more comprehensive statement indicates that NFT sellers will be required to record the time and place of each transaction, possibly including the buyer's address. It defines NFTs and lists which types of NFTs are taxable. (source link)
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