It’s known for being the home of Mount Rushmore – and not much else. But thanks to its relish for deregulation, the state is fast becoming the most profitable place for the mega-wealthy to park their billions.
Resolving a long-standing question, the guidance says new cryptocurrencies created from a fork of an existing blockchain should be treated as “an ordinary income equal to the fair market value of the new cryptocurrency when it is received.”
The tax continues to increase with income, so net worth between $250 and $500 million is taxed at 3 percent, $500 million to $1 billion at 4 percent, $1 to $2.5 billion at 5 percent, $2.5 to $5 billion at 6 percent, $5 to $10 billion at 7 percent, and all
Switzerland said requests for information may be submitted from the date of entry into force of the Protocol, September 20, 2019.
The “Ultra Millionaires Tax” should be a red flag for anyone who believes in personal responsibility, hard work, and private property.