United States of America: Released interim guidance regarding taxability of NFTs

On 1 July 2022, the Department of Revenue of Washington state issued an Interim Guidance Statement subjecting non-fungible tokens (NFTs) to a 6.5% sales tax and a 0.471% business and occupancy (B&O) tax. Under the Interim Guidance, NFT sellers have to collect sales taxes from their buyers and must also pay the B&O tax if the sale is attributable to Washington state. The Department of Revenue stated that the Interim Guidance would be in effect until replaced by permanent Guidance or cancelled.