The New York State Department of Taxation and Finance has actually stated that bitcoin purchases will certainly not be subject to sales taxes.
According to a tax guidance memorandum from the agency’s Taxpayer Guidance Department dated Fifth December (hat idea Marco Santori), digital currencies are a kind of “intangible home” and, as such, are not subject to a sales tax when purchased.
The step comes months after the US Internal Income Service (IRS) released its preliminary guidance on taxing bitcoin as a type of property, and offers an answer to a long-brewing question about how state sales taxes in the United States may be applied to bitcoin transactions.Continue reading at CoinDesk
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