‍New York Proposes 0.2% Excise Tax on Digital Asset Transactions

New York State Assembly Bill 8966 introduces a 0.2% excise tax on the sale and transfer of digital assets, including cryptocurrencies and NFTs. If enacted, this levy would apply from September 1st, aiming to fund substance abuse prevention and intervention programs in schools.

The bill must pass through the Assembly, Senate, and receive gubernatorial approval. This proposal reflects New York's continued engagement with regulating and taxing the digital asset sector, following its introduction of the BitLicense in 2015. The state's approach to crypto taxation varies from others, with New York treating digital assets as cash for tax purposes.

https://cryptovka.ru/en/news/3782/big-apple-bigger-taxes-new-york-s-proposed-crypto-sales-levy