11:03 p.m.
Who discussed a workaround to paying taxes at Defcon? The only related item
I am aware of is possibly having MAGIC sell many of the educational
materials, since it is working to be a 501(c)(3) and has limited liability.
On Mon, Jun 11, 2018 at 9:04 AM Michael Schloh von Bennewitz <
michael(a)getmonero.org> wrote:
Hello A.J.,
On 11.06.2018 at 15:20 wrote A.J. Santos wrote:
> 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?
>
This is fine, and if a few people want to implement it then I'll give
the Defcon administration contact information, in order to communicate
the arrangement with them. In the best case they will agree, and in the
worst case there will be $700 loss and some hours time as well. I have
no idea, just that Defcon has so far said 'there is no workaround to
paying sales tax at Defcon.'
Cheers,
Michael
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