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Public Metaverse Author: Kristina Dosen
While the European Parliament reached a provisional agreement on the markets in crypto-assets (MiCA) proposal, there is still little to no regulation in regard to NFTs in Europe. In the U.S., however, Wisconsin has become the fifth state to issue official guidance on the sales tax status of NFTs.
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Fiscal subject related

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Content accuracy validation date: 29.11.2022
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Namely, it was established that the acquisition of an NFT may be taxable in cases where the product, good, or service, underlying the NFT is taxable in the state. For example, if an NFT allows the buyer to download music or movies, the NFT is then considered a sale of a digital good. If an NFT is linked to admission to a sporting event, it’s taxable. If the NFT comes along as a tangible piece of art, it is then considered a sale of personal property.

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