We understand Crypto and tax can be complicated. That’s why we have worked out a lifetime service agreement with CITYUPTAKE for the EMS community. We want to work with CITYUPTAKE to create transparency and help lead blockchain into real world use cases. Crypto held as capital assets are taxed as property. General tax principles applicable to property transactions apply. Like stocks or bonds, any gain or loss from the sale or exchange of the asset is taxed as a capital gain or loss.
Members who hold +333,333 EMS must follow CITYUPTAKE KYC to receive patronage dividends. Otherwise the token is considered a utility for discounts in the marketplace and in game use. A patronage dividend is a dividend or distribution that a co-operative pays to its members or investors. Patronage dividends are given based on a proportion of profit that the business makes.