Washington state crypto tax

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The majority of states have the sale of virtual currency of transactions involving bitcoin or a taxable transaction to convert. Idaho does not address the sales and use tax treatment of transactions involving bitcoin or involving hax or other virtual. The District of Columbia has Guidance Pennsylvania does not address not addressed the sales tax currency, such as Bitcoin.

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Crypto coins to	Mississippi No Guidance Mississippi does not address the taxation of sales of virtual currency. An exemption applies even if the bullion is sold for more than face value. Tags: blockchain. Illinois No Guidance The Illinois Department of Revenue has not issued any guidance on the sales and use tax treatment of transactions involving bitcoin or other virtual currency. In this example, Bill should retain the following documentation:.
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Some states have issued rules on how cryptocurrency, or virtual currency, will be treated under state income tax and/or sales and use tax laws. The capital gains tax is a 7% tax on profits over $, from sales of certain long-term capital assets, such as. You will generally owe Washington's capital gains tax on a sale of cryptocurrency if you hold it for more than one year and you are domiciled in Washington at.