August 18, 2022
State & Local Tax Leader John Bonk wrote an article on the tax treatment of NFTs for Bloomberg Tax.
Bloomberg Tax
By John Bonk, National State & Local Tax Leader
Excerpt:
Washington is the only state so far that has provided specific guidance on the taxability of non-fungible tokens for sales tax purposes. As other states develop guidance, NFT sellers should address state sales tax liability early in the process, rather than later during a sales tax audit, says Marcum LLP’s John Bonk.
