9:20 a.m.
Hello all,
One possible solution to the tax issue is to incorporate a LLC. The two
benefits of operating under a LLC are: (1) Federal/State taxes could be
reported under an entity and (2) liability is limited by the amount of
assets held by the LLC (think possible legal risks of slip fall claims,
exploding badges). The cost of incorporating an LLC in Nevada would be
about $700 if a site like https://www.legalzoom.com is used.
I know some might assert this is against decentralization! But, there
should be a distinction made. The scope of the LLC would be limited only
to management and promotion of the Monero Defcon event and will have
nothing to do with code development.
Thoughts?
ajs
On 06/11/2018 03:42 PM, Michael Schloh von Bennewitz wrote:
Hello list,
There have been some ideas recently floated relating to avoiding
sales tax in our village. There can be no required exchange of
value in our village without recording as a sale and paying the
state sales tax.
Selling at private areas like the party is not part of
this stated village policy (made by Defcon not us.)
The discussion we still need to have in meetings is how to record,
charge, and advertise that sales tax is being collected. This might
be a problem with cryptocurrency sales for example, so let's support
our treasurers by seeking and sharing advice on the topic.
Cheers,
Michael