Washington State has become the first state in the United States to announce that it will issue specific policies regarding the taxation of NFTs (non-fungible tokens). NFTs are unique digital assets that serve as certificates of authenticity for various types of digital products, including collectibles, music and artwork. The guidance will come in the form of an excise tax advisory (ETA), which is a published position of the Washington Department of Revenue. We expect the guidance to categorize NFTs as falling within Washington’s broadly defined category of taxable “digital products.”
Source DLA Piper
Latest Posts in "United States"
- USTR Evaluates Extending Section 301 Tariff Exclusions on Chinese Imports Beyond November 2025
- Washington DOR Issues Guidance on Tax Implications for Existing Contracts Under New Law
- Washington Taxpayer Challenges New Tax on Advertising Services Under ITFA
- California Use Tax Applies to In-State Repair Parts, Even if Device is Shipped Out-of-State
- Implementing Certain Tariff-Related Elements of the United States-Japan Agreement
