Walter Calvert, Christopher Moran, Matthew Carruth (July 29, 2022, 6:15 pm EST)-In the world of state and native taxes, one thing new typically occurs that doesn’t match into current conceptual frameworks and guidelines. To do. For instance, delivering digital books and different digital media as a substitute of bodily media has overturned the gross sales tax system that has historically been utilized primarily to the sale of tangible property.

Today, the growing use of cryptocurrencies and the growth of the non-fungible token (NFT) market are one other instance of such innovation. This innovation requires governments and their tax authorities to contemplate the way to apply current tax legal guidelines and whether or not they need to apply …

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