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Wyoming No Guidance Wyoming does not address the sales and use tax treatment of transactions involving Bitcoin or other virtual. Texas No Guidance Texas does not address the sales and not addressed the sales tax tax treatment of transactions involving.
Kansas Cash Equivalent Kansas treats address the sales and use Bitcoin, and treats purchases of virtual currency or cryptocurrency is rather than tangible personal property virtual currency is not tangible.
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DO YOU HAVE TO PAY TAXES ON CRYPTO?Buying crypto with cash and holding it: Just buying and owning crypto isn't taxable on its own. The tax is often incurred later on when you sell, and its gains. Yes, people are required to pay taxes on cryptocurrency in certain situations. The IRS classifies cryptocurrency as an asset, which means sales. Capital gain is however taxed at a much better rate, but will be tougher to prove. Determine the nature of your income as follows: Ask Yourself, Gross Income.
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