Florida lawmakers have introduced a groundbreaking bill to eliminate state-level capital gains taxes on assets like Bitcoin, XRP, and traditional stocks.
If passed, Florida would become the first U.S. state to offer zero capital gains tax specifically targeting crypto investors.
The initiative is part of a broader push to position Florida as a hub for digital innovation and investment. Supporters argue the bill could accelerate crypto adoption and attract individual and institutional investors seeking a more favorable tax environment.
However, it’s important to note that while the state tax would be lifted, federal capital gains taxes would still apply.
The move comes as several states compete to create regulatory and financial incentives for the booming digital asset industry.
Source
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
Source: https://coindoo.com/florida-bill-proposes-zero-capital-gains-tax-on-bitcoin-xrp-and-stocks/