#World Cup Predictions: 100,000 USDT Daily #BTC Prophet: 20-Day 380 Million HTX Challenge #HTX Creation Challenge — Post and Win 1,500U 💥 Illinois Passes First U.S. Crypto Transaction Tax at 0.2%
Illinois has passed the first U.S. digital asset news tax, imposing a 0.2% levy on crypto transactions via its $55.9 billion budget. The Digital Asset Tax Act, signed by Governor JB Pritzker, targets brokers handling exchange, transfer, custody, and wallet services. Brokers must register with the Illinois Department of Revenue and collect the tax separately. Industry groups, including the Crypto Council for Innovation, oppose the law, calling it harmful to on-chain news innovation. The tax applies directly to activity, not income or gains, and takes effect January 1, 2027.
Illinois just became the first U.S. state to impose a broad, transaction-level tax on digital-asset activity — and the crypto industry is warning of serious consequences. What passed - Governor JB Pritzker has signed Illinois’ $55.9 billion budget, which includes the Digital Asset Tax Act. The law levies a 0.2% tax on digital-asset business activity tied to brokers’ services — including exchange, transfer, custody and wallet operations. - The tax takes effect Jan. 1, 2027. Brokers must register with the Illinois Department of Revenue before engaging in covered activity; registration lasts one year and auto-renews unless canceled or revoked. - State budget paperwork estimated roughly $60 million in revenue from the measure. The tax was advanced through the budget process after lawmakers approved Senate Bill 3019. Who is affected - The rule applies to firms operating in Illinois and, under broad sourcing rules, to out-of-state brokers that generate at least $100,000 in annual receipts from Illinois customers.
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