New York Proposes 0.2% Crypto & NFT Tax for Prevention Programs

Assemblymember Phil Steck has introduced New York Assembly Bill 8966, proposing a 0.2% excise tax on the sale and transfer of digital assets, including cryptocurrencies and non‑fungible tokens (NFTs). The bill, if enacted, would take effect on September 1 and apply to all digital asset transactions across the state. Revenue generated from the proposed tax would be allocated to expand substance abuse prevention and intervention programs in ups...

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