jseal
10-23-2006, 01:13 PM
The Joint Economic Committee (http://www.house.gov/jec/) (JEC) of Congress has announced that it is investigating the amount of commerce taking place in multi-player online role-playing game worlds.
The increase in the popularity of online gaming has brought about virtual economies in the exchange items “won” or “stolen” during play (http://secondlife.com/).
"There is a concern that the IRS (Internal Revenue Service) might step forward with regulations that start taxing transactions that occur within virtual economies," said committee chairman Jim Saxton. "This, I believe, would be a mistake. (http://www.house.gov/jec/news/news2006/pr109-98.pdf)"
The increase in the popularity of online gaming has brought about virtual economies in the exchange items “won” or “stolen” during play (http://secondlife.com/).
"There is a concern that the IRS (Internal Revenue Service) might step forward with regulations that start taxing transactions that occur within virtual economies," said committee chairman Jim Saxton. "This, I believe, would be a mistake. (http://www.house.gov/jec/news/news2006/pr109-98.pdf)"