Tax Rules for Cryptocurrency ‘Airdrops’ Signed Into Arizona Law

July 6, 2022, 10:19 PM

The value of cryptocurrency and non-fungible tokens that are sent for free to digital wallets won’t be subject to Arizona income tax under a law signed by Gov. Doug Ducey on Wednesday.

The changes take aim at “airdrops,” a promotional tool to distribute tokens to customers at no cost.

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