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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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