87 / PA sales tax
And the sock loophole

Discusses PA's sales tax on NFTs, with a spotlight on how they are defined and taxed. Surprisingly, regulations date back to 2016, but there was no retroactive enforcement before May 2022. The hosts highlight a loophole where NFTs linked to non-taxable items, like clothing, could avoid tax. They also delve into Su Squares, NFTs that allow pixel edits since 2018. Major queries raised include defining transfers and creations in the NFT world. The episode critiques PA's documentation style and juxtaposes regulations with real-world NFT products, underscoring potential inconsistencies.


00:00 Intro
00:56 The PA statute
01:08 Summary webpage
01:22 NFT definition
02:33 What represented?
03:34 Determine taxability
04:34 The copout?
04:59 How to cop out?
05:29 Where is the nexis
06:18 Securitize everything?
07:00 What price?
07:24 Royalties tax?
07:48 Marketplace tax
08:09 Retroactive enforcement
08:17 Real world



William Entriken Stayed to end


Daniel Tedesco Stayed to end


AKM Stayed to end


??? Stayed to end


??? Stayed to end

Episode notes

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2023-08-01 / wrap-up Tweet