Arizona § 43-1028 Sale of virtual currency or non-fungible tokens; calculation of gain or loss; gas fees; subtraction; definitions

Arizona Statutes

§ 43-1028 — Sale of virtual currency or non-fungible tokens; calculation of gain or loss; gas fees; subtraction; definitions

Arizona § 43-1028

Title 43Arizona Revised Statutes

Ch. 10INDIVIDUALS

Art. 3Adjustments to Arizona Gross Income

This text of Arizona § 43-1028 (Sale of virtual currency or non-fungible tokens; calculation of gain or loss; gas fees; subtraction; definitions) is published on Counsel Stack Legal Research, covering Arizona primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ariz. Rev. Stat. Ann. § 43-1028 (2026).

Text

A.If a taxpayer has included in Arizona gross income a gain or loss on the sale of virtual currency or a non-fungible token and in calculating the gain or loss the taxpayer did not include in the basis of the virtual currency or non-fungible token any gas fees paid on the purchase of the virtual currency or non-fungible token or did not otherwise deduct these gas fees in determining Arizona gross income, the taxpayer may subtract the amount of the gas fees from Arizona gross income.

B.For the purposes of this section:

1."Foreign currency" means the coin and paper money of a country other than the United States that is designated as legal tender, circulates and is customarily used and accepted as a medium of exchange in the country of issuance.

2."Gas fee" means a fee paid to the ope

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A. If a taxpayer has included in Arizona gross income a gain or loss on the sale of virtual currency or a non-fungible token and in calculating the gain or loss the taxpayer did not include in the basis of the virtual currency or non-fungible token any gas fees paid on the purchase of the virtual currency or non-fungible token or did not otherwise deduct these gas fees in determining Arizona gross income, the taxpayer may subtract the amount of the gas fees from Arizona gross income.

B. For the purposes of this section:

1. "Foreign currency" means the coin and paper money of a country other than the United States that is designated as legal tender, circulates and is customarily used and accepted as a medium of exchange in the country of issuance.

2. "Gas fee" means a fee paid to the operator of a virtual network for the use of the network to facilitate the purchase, sale or exchange of virtual currency or a non-fungible token.

3. "Non-fungible token" means a non-fungible cryptographic asset on a blockchain that possesses unique identifiers or other metadata that distinguishes the asset from another token or asset in a manner that makes the asset irreplaceable and nonexchangeable for a similar token or asset.

4. "Virtual currency" means a digital representation of value that functions as a medium of exchange, a unit of account and a store of value other than a representation of the United States dollar or a foreign currency.