New Jersey Tax Authorities Targeting Crypto Transaction Data

New Jersey tax authorities want to explore how crypto transactions can be tracked for calculating taxable sales income, an agency spokeswoman said Thursday.

“The Division of Taxation intends to create a working group to start looking at how to identify transactions taking place using crypto currency for sales tax purposes, in addition to exchanging information with the IRS and states concerning the taxation of digital assets,” spokeswoman Jennifer Sciortino said.

The working group will examine cyber developments and potential private-public partnerships that will be critical in the next three to five years to trace which companies are engaging in ...