Illinois Enacts First-of-Its-Kind Cryptocurrency Transaction Tax
Illinois becomes the first state in the nation to impose a transaction-based tax on digital asset activity, raising significant compliance, constitutional, and competitive concern…
Illinois becomes the first state in the nation to impose a transaction-based tax on digital asset activity, raising significant compliance, constitutional, and competitive concerns for the industry, write Baker McKenzie's Drew Hemmings, Doug Wick, David Zaslowsky, and Matthew Musano.
Source: https://news.bloomberglaw.com/tax-management-memo/illinois-enacts-first-of-its-kind-cryptocurrency-transaction-tax