North Carolina promotes laws about cryptocurrency taxation

Congressmen from North Carolina has started a conversation about crypto taxation again. According to official it is important to end a double taxation by adding revisions to tax code from 1986.

According to old laws, deals with cryptocurrencies equal to real estate trading and taxed with a 40% from each transaction. It is because crypto deal is considered as a sale of active, when actually, according to official, cryptocurrency is a goods.

Tax aspect is a deterrent one for promotion of cryptocurrency transaction. If the considered law will be accepted, all crypto transactions will be free from double taxation. 

1 year ago

Start Weekly Digest

Similar news