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Author Topic: Next on the Congress Agenda: Taxation on Virtual Goods/assets  (Read 2372 times)

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Offline Flames_of_chaos

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Next on the Congress Agenda: Taxation on Virtual Goods/assets
« on: June 26, 2007, 03:00:29 AM »
I wonder how many people saw this going to happen?
Okay I think that this is the stupidest thing ever that congress is worrying about. But on the other hand I suppose a lot of gold farmers on MMOs are trying to evade putting up this as a source of income (putting up gold or whatever on E-bay). But if this is going to be taxed whats next micro transactions? Purchasing games on VC, XBLA or PSN?!?!
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Offline UncleBob

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RE: Next on the Congress Agenda: Taxation on Virtual Goods/assets
« Reply #1 on: June 26, 2007, 03:05:11 AM »
FairTax.org
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Offline Caliban

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RE: Next on the Congress Agenda: Taxation on Virtual Goods/assets
« Reply #2 on: June 26, 2007, 03:15:40 AM »
I pay taxes for every 5000 ($50) points I get from the VC shop, so it's no big deal to me, then again I'm in Canada.
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Offline KDR_11k

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RE: Next on the Congress Agenda: Taxation on Virtual Goods/assets
« Reply #3 on: June 26, 2007, 03:54:42 AM »
Taxing the actual virtual stuff is dumb and the real money that changes hands when selling those is already taxed. Well, except for Second Life, that should have ingame transactions taxed like regular transactions, too, since they're basically using "Krusty Fun Bucks" there.
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Offline ThePerm

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RE:Next on the Congress Agenda: Taxation on Virtual Goods/assets
« Reply #4 on: June 26, 2007, 05:03:13 AM »
damns thats frickin stupid
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Offline UncleBob

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RE: Next on the Congress Agenda: Taxation on Virtual Goods/assets
« Reply #5 on: June 26, 2007, 05:37:40 AM »
Correct me if I'm wrong, as I just skimmed through the article, but they're not taking about sales tax or anything of the like.  They're talking about people reporting these earnings on their income taxes... which, ideally, they're supposed to anyway (the ones that make $X/year selling virtual goods).
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Offline Sir_Stabbalot

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RE:Next on the Congress Agenda: Taxation on Virtual Goods/assets
« Reply #6 on: June 26, 2007, 06:16:24 AM »
Quote
Originally posted by: UncleBob
Correct me if I'm wrong, as I just skimmed through the article, but they're not taking about sales tax or anything of the like.  They're talking about people reporting these earnings on their income taxes... which, ideally, they're supposed to anyway (the ones that make $X/year selling virtual goods).


Oh, well in that case it sounds good. Help discourage gold farmers.
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