#ai-taxation

#ai-taxation

"The current administration has signaled that it is very pro-business and wants to make it as easy as possible for these new fintech business models such as prediction markets and crypto to operate."

Under New York law, the retail tax due on discounted products must be calculated on the price before the discount is applied, specifically so as to not subvert State and local tax collections.

Members of Musk's private security team were deputized as federal agents last year, allowing them to carry firearms in certain federal buildings, despite some of the guards failing to meet what the Marshals Service considered to be the basic requirements to be deputized as federal law enforcement.

Changes to the UK's IR35 tax legislation will redraw the lines of responsibility between businesses and the freelancers they engage, promising relief for many companies that previously bore the compliance burden.

Starting Jan. 1, 2026, updated reporting obligations require crypto platforms operating in the EU or serving EU users to provide detailed information on users and their transactions to tax authorities. This change aligns digital assets more closely with the transparency requirements long established in conventional finance.

Under current law, bitcoin is treated as property, which means every purchase with the asset triggers a capital gains calculation, regardless of transaction size. BPI argues that this framework discourages routine payments, such as buying coffee or sending small remittances, because users must track cost basis and report minor gains and losses.