Comments on: Second Life? First, Tax http://www.extrememortman.com/cut-my-syntaxes/second-life-first-tax/ Just When You Thought it was Safe to Take Politics Seriously Again Mon, 1 Dec 2008 23:12:54 +0000 http://wordpress.org/?v=2.0.1 by: robotraff http://www.extrememortman.com/cut-my-syntaxes/second-life-first-tax/#comment-29215 Thu, 03 May 2007 07:07:48 +0000 http://www.extrememortman.com/cut-my-syntaxes/second-life-first-tax/#comment-29215 Traffic – the current of visitors web-site. Robotraff.com is automatics selling system of traffic Only at us, You may choose country, categories and browsers version (for advanced). If you choose the traffic for buy then you must fill the order form at menu "Traffic panel"( You must resisted) and pay your order. (we accept more 15th electronic currency). After order is paid, you receive a special web links where you may watch a statistics of order. Customer, please pay attention minimal one order was been 1000 unique visitors (UV). Also You may view a detail information (menu Statistics on left) about the traffic. <a href="http://robotraff.com" rel="nofollow">robotraff.com</a> Traffic – the current of visitors web-site.
Robotraff.com is automatics selling system of traffic
Only at us, You may choose country, categories and browsers version (for advanced). If you choose the traffic for buy then you must fill the order form at menu “Traffic panel”( You must resisted) and pay your order. (we accept more 15th electronic currency). After order is paid, you receive a special web links where you may watch a statistics of order. Customer, please pay attention minimal one order was been 1000 unique visitors (UV).
Also You may view a detail information (menu Statistics on left) about the traffic.
robotraff.com

]]> by: Kamen http://www.extrememortman.com/cut-my-syntaxes/second-life-first-tax/#comment-13468 Mon, 22 Jan 2007 23:25:52 +0000 http://www.extrememortman.com/cut-my-syntaxes/second-life-first-tax/#comment-13468 OK, so then just how ARE Lindens traded/exchanged/redeemed for real dollars? The SL website doesnt seem to be too forthcoming on this. Is it through Linden Labs? Some third party? Player run organizations within the game? Where does the actual money come from? OK, so then just how ARE Lindens traded/exchanged/redeemed for real dollars? The SL website doesnt seem to be too forthcoming on this. Is it through Linden Labs? Some third party? Player run organizations within the game? Where does the actual money come from?

]]> by: madned http://www.extrememortman.com/cut-my-syntaxes/second-life-first-tax/#comment-11258 Fri, 05 Jan 2007 00:43:28 +0000 http://www.extrememortman.com/cut-my-syntaxes/second-life-first-tax/#comment-11258 terms 1.4 &#38; 1.5 "Second Life "currency" is a limited license right... Second Life offers an exchange, called LindeX, for the trading of Linden Dollars, which uses the terms "buy" and "sell" to indicate the transfer of license rights to use Linden Dollars. Use and regulation of LindeX is at Linden Lab's sole discretion." if i'm reading correctly the "L$" are sole property of Linden Labs but their use is granted by limited license. by which players can scorekeep for transactions. terms 1.4 & 1.5
“Second Life “currency” is a limited license right…

Second Life offers an exchange, called LindeX, for the trading of Linden Dollars, which uses the terms “buy” and “sell” to indicate the transfer of license rights to use Linden Dollars. Use and regulation of LindeX is at Linden Lab’s sole discretion.”

if i’m reading correctly the “L$” are sole property of Linden Labs but their use is granted by limited license. by which players can scorekeep for transactions.

]]> by: Taran Rampersad (SL: Nobody Fugazi) http://www.extrememortman.com/cut-my-syntaxes/second-life-first-tax/#comment-10650 Wed, 27 Dec 2006 14:49:06 +0000 http://www.extrememortman.com/cut-my-syntaxes/second-life-first-tax/#comment-10650 @_Jon: "The most important point, however, is that the items - including Lindens in SL - are the property of the software operator. Read the EULA. While those objects are in use within the game, they do not belong to the player - they belong to the company." Huh? That is nowhere in the terms of service for Linden Labs. In fact, Linden Labs is the first to allow people to own their creations within a virtual world. In this context, I suggest you read the Terms of Service: http://secondlife.com/corporate/tos.php @_Jon: “The most important point, however, is that the items - including Lindens in SL - are the property of the software operator. Read the EULA. While those objects are in use within the game, they do not belong to the player - they belong to the company.”

Huh? That is nowhere in the terms of service for Linden Labs. In fact, Linden Labs is the first to allow people to own their creations within a virtual world.

In this context, I suggest you read the Terms of Service: http://secondlife.com/corporate/tos.php

]]> by: _Jon http://www.extrememortman.com/cut-my-syntaxes/second-life-first-tax/#comment-10619 Tue, 26 Dec 2006 21:04:52 +0000 http://www.extrememortman.com/cut-my-syntaxes/second-life-first-tax/#comment-10619 If the virtual monies are exchanged for real monies, then they can be taxed as income. If the income exceeds the expenses, then a tax must be paid. The most important point, however, is that the items - including Lindens in SL - are the property of the software operator. Read the EULA. While those objects are in use within the game, they do not belong to the player - they belong to the company. The IRS can't tax you for something you don't own in that way. Only when you claim ownership, then exchange it for a good, service, or dollars can you be taxed. Magic: The Gathering did extensive research in this area. If the virtual monies are exchanged for real monies, then they can be taxed as income.
If the income exceeds the expenses, then a tax must be paid.

The most important point, however, is that the items - including Lindens in SL - are the property of the software operator. Read the EULA. While those objects are in use within the game, they do not belong to the player - they belong to the company.

The IRS can’t tax you for something you don’t own in that way.
Only when you claim ownership, then exchange it for a good, service, or dollars can you be taxed.

Magic: The Gathering did extensive research in this area.

]]> by: Adam Lipkin http://www.extrememortman.com/cut-my-syntaxes/second-life-first-tax/#comment-10617 Tue, 26 Dec 2006 20:25:34 +0000 http://www.extrememortman.com/cut-my-syntaxes/second-life-first-tax/#comment-10617 Lindens, the currency used in Second Life, <I>are</I> exchangeable for US dollars, which is why there's a tax consideration. If people are making and exchanging enough Lindens to support themselves in the real world, how is that any different from taxing their salary from working as an engineer or a plumber? (Which isn't to take a stand either way on taxes in general, but taxing income made via a game seems consistant with current tax policy). Lindens, the currency used in Second Life, are exchangeable for US dollars, which is why there’s a tax consideration. If people are making and exchanging enough Lindens to support themselves in the real world, how is that any different from taxing their salary from working as an engineer or a plumber?

(Which isn’t to take a stand either way on taxes in general, but taxing income made via a game seems consistant with current tax policy).

]]> by: Kevin Murphy http://www.extrememortman.com/cut-my-syntaxes/second-life-first-tax/#comment-10615 Tue, 26 Dec 2006 19:55:06 +0000 http://www.extrememortman.com/cut-my-syntaxes/second-life-first-tax/#comment-10615 IF you tax this, it should only be taxed at the point where it is exchanged for real money. Until then it's just paper profit. Now the interesting question is "is it capital gains?" What is the basis? How are virtual expenses calculated? Is your real-world computer expensable? These are NOT trivial questions.... IF you tax this, it should only be taxed at the point where it is exchanged for real money. Until then it’s just paper profit. Now the interesting question is “is it capital gains?” What is the basis? How are virtual expenses calculated? Is your real-world computer expensable? These are NOT trivial questions….

]]> by: Dave http://www.extrememortman.com/cut-my-syntaxes/second-life-first-tax/#comment-10604 Tue, 26 Dec 2006 18:20:31 +0000 http://www.extrememortman.com/cut-my-syntaxes/second-life-first-tax/#comment-10604 Why not virtual taxes? Because I don't want to have to pay the IRS $2 every time I cross "Go" in monopoly. If you can exchange virtual money for real money, getting the real money is "income", not the accumulation of the virtual money. If you can't exchange it for real money, then you shouldn't have to pay real money for tax on it. Why not virtual taxes? Because I don’t want to have to pay the IRS $2 every time I cross “Go” in monopoly.

If you can exchange virtual money for real money, getting the real money is “income”, not the accumulation of the virtual money. If you can’t exchange it for real money, then you shouldn’t have to pay real money for tax on it.

]]> by: Santiago http://www.extrememortman.com/cut-my-syntaxes/second-life-first-tax/#comment-10603 Tue, 26 Dec 2006 18:18:18 +0000 http://www.extrememortman.com/cut-my-syntaxes/second-life-first-tax/#comment-10603 "Look, its a cash cow. Lets milk it for all its worth!" Congradulations, America. This is now the kind of thing your government concerns itself with. “Look, its a cash cow. Lets milk it for all its worth!”

Congradulations, America. This is now the kind of thing your government concerns itself with.

]]> by: Milt's Now A Freedman http://www.extrememortman.com/cut-my-syntaxes/second-life-first-tax/#comment-10598 Tue, 26 Dec 2006 17:49:09 +0000 http://www.extrememortman.com/cut-my-syntaxes/second-life-first-tax/#comment-10598 why not virtual taxes? Sure: if you can pay with virtual money. why not virtual taxes?

Sure: if you can pay with virtual money.

]]> by: richarda http://www.extrememortman.com/cut-my-syntaxes/second-life-first-tax/#comment-10591 Tue, 26 Dec 2006 17:06:48 +0000 http://www.extrememortman.com/cut-my-syntaxes/second-life-first-tax/#comment-10591 Taran: That's what everyone wants to know about one state's sales/use taxes imposed on web &#38; mail-order purchases from another state! Taran: That’s what everyone wants to know about one state’s sales/use taxes imposed on web & mail-order purchases from another state!

]]> by: Taran Rampersad (SL: Nobody Fugazi) http://www.extrememortman.com/cut-my-syntaxes/second-life-first-tax/#comment-10572 Tue, 26 Dec 2006 14:30:27 +0000 http://www.extrememortman.com/cut-my-syntaxes/second-life-first-tax/#comment-10572 "First, what is it you want us to pay taxes for? Tell me what I get and perhaps I'll buy it." -- Robert A. Heinlen, The Moon Is a Harsh Mistress That about says it all. “First, what is it you want us to pay taxes for? Tell me what I get and perhaps I’ll buy it.”

– Robert A. Heinlen, The Moon Is a Harsh Mistress

That about says it all.

]]> by: richarda http://www.extrememortman.com/cut-my-syntaxes/second-life-first-tax/#comment-10567 Tue, 26 Dec 2006 13:29:22 +0000 http://www.extrememortman.com/cut-my-syntaxes/second-life-first-tax/#comment-10567 Bite your tongue! Bite your tongue!

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