Vermont Bill Would Tax Cryptocurrency Transactions
Law360, New York (January 11, 2018, 8:02 PM EST) -- A bill introduced this month in Vermont would create a $0.01 tax on digital currency transactions while exempting new digital currency companies from a slew of current state taxes, making it one of the first bills of its type focused on taxing the exchange of the booming cryptocurrency market amid growing regulatory scrutiny.
S.269, sponsored by state Sen. Alison Clarkson, D-Woodstock, and introduced Jan. 3, proposes having a newly created "digital currency limited liability company" remit to Vermont the equivalent of $0.01 in the form of its own digital currency per transaction "for each unit of currency mined or otherwise created"...
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