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Digital Assets › State Taxes › Cryptocurrency

Cozen O'Connor

Illinois Insights: An update from Cozen O'Connor (8/13)

Cozen O'Connor on

Pritzker Signs ‘Sonya Massey’s Bill’ Into Law, Requiring Stricter Background Checks for Police Hiring- “The new law requires law enforcement agencies across Illinois to review all aspects of a person’s background and...more

Cadwalader, Wickersham & Taft LLP

Should I Stay or Should I Go? Hedge Funds: Crypto and State Tax

Cadwalader, Wickersham & Taft LLP on

Hedge fund managers have a state tax gating issue when it comes to adding crypto to their assets under management. Generally, states such as New York, Connecticut and California encourage asset managers to locate in their...more

Allen Barron, Inc.

IRS and California Tax Issues Associated with Non-Fungible Tokens or NFTs

Allen Barron, Inc. on

What is a Non-Fungible Token or NFT and what are the IRS and California tax issues associated with Non-Fungible Tokens or NFTs which might apply to you?  NFTs are unique tokens based in and recorded within a blockchain that...more

Cadwalader, Wickersham & Taft LLP

States Turning Eyes to Taxation of Cryptocurrency and Non-Fungible Tokens (NFTs)

Cadwalader, Wickersham & Taft LLP on

As the IRS ponders its approach to taxing cryptocurrency and NFTs, states are increasingly imposing taxes on some digital asset transactions, including the use of cryptocurrencies...more

McDermott Will & Schulte

Taxation of the Purchase and Sale of NFTs

McDermott Will & Schulte on

Given a lack of guidance on the tax treatment of non-fungible tokens (NFTs), taxpayers can be forgiven for experiencing a certain level of uncertainty with respect to how the Internal Revenue Service (IRS) will apply its tax...more

Carlton Fields

State Regulations on Virtual Currency and Blockchain Technologies (Updated March 2021)

Carlton Fields on

Introduction: There exists no uniformity with respect to how businesses that deal in virtual currencies (also known as "cryptocurrencies") such as Bitcoin are treated among the states. For these proprietors, often the first...more

Proskauer - Blockchain and the Law

Ohio is the First US State to Allow Payment of Taxes Using Bitcoin

Proskauer - Blockchain and the Law on

Today, Ohio reportedly becomes the first US state to allow taxes to be paid in the form of bitcoin. Although the program, which is spearheaded by Ohio Treasurer Josh Mandel, will not be available to individual taxpayers until...more

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