New York State proposes a 0.2% sales tax on encryption transactions, expected to generate an additional $158 million annually.

According to reports from Jinse Finance, New York State legislator Phil Steck has proposed a bill to impose a 0.2% sales tax on cryptocurrency transactions statewide, which is expected to generate an additional $158 million annually. The funds will be used for drug prevention and intervention programs in schools in northern New York. This tax covers digital assets and stablecoins obtained from NFT, Mining, and staking. Currently, eight states, including New York and California, treat cryptocurrencies as cash equivalents for tax purposes and have imposed Capital Gains Tax, gift tax, and estate tax on digital assets.

PHIL-2.01%
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DataPickledFishvip
· 08-17 14:46
Be Played for Suckers? It starts with 0.2%.
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DegenGamblervip
· 08-16 00:06
suckers tax on the US dollar
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TokenToastervip
· 08-16 00:06
The harvest is on, Be Played for Suckers has begun.
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BanklessAtHeartvip
· 08-16 00:06
Be Played for Suckers and that's it.
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P2ENotWorkingvip
· 08-15 23:59
Can taxes cure drug addiction?
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