Drop Purchases - Primary sales
RECUR may charge sales tax on NFTs purchased with fiat payments in primary drops in applicable jurisdictions. Using your RECUR Wallet during the checkout process or a credit or debit card is considered a fiat payment. The tax rate is calculated depending on which payment method you use and your billing or other informational details associated with the payment method.
Marketplace Purchases- Secondary market sales
Depending on your state and municipality, you may be subject to sales tax on secondary market purchases. This is required in order for RECUR to remain compliant with various tax laws within the jurisdictions that it operates. For states and municipalities where secondary sales tax is applicable, you will see a sales tax applied on top of the subtotal for your secondary market purchase.
If you have additional questions regarding sales tax on your transaction, please don’t hesitate to submit a request and we’d be happy to help!
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