This week in state tax news: A review of Twitter activity reveals confusion about the tax treatment of investments in cryptocurrencies and NFTs. Meanwhile, a study shows a third of state economic development agencies hide details of the incentive deals they make to lure business investments. And Georgia, Illinois, Nebraska, and New York take legislative steps to cut taxes.
As it turns out, Twitter has become an excellent resource for solving the biggest tax conundrum this filing season: accounting for income, gains, and losses linked to cryptocurrency and nonfungible tokens, or NFTs.
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