Is the sale of an NFT subject to tax? Should it be? While lawmakers and tax officials worldwide have at least 91.8 million reasons to ensure tax laws account for sales of NFTs and other new tech, crafting tax policies for NFTs is difficult.
More than 20 of the profession’s thought leaders met virtually to discuss how AI will impact accounting firms and clients, and to start developing best practices firms can embrace to best optimize its potential benefits.
In the United States alone, there are thousands of locally administered accommodations taxes. According to the State Tax Research Institute, “state and local accommodations taxes exhibit even greater diversity.”
Avalara is the first tax compliance software provider to work with OpenAI to use its protocol to build an integrated plugin for ChatGPT.