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

State & Local Tax Leader John Bonk wrote an article on the tax treatment of NFTs for Bloomberg Tax. State & Local Tax

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.

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John  Bonk

John Bonk

National State & Local Tax Leader

  • Tax & Business
  • West Palm Beach, FL