Kentucky, madencilik için vergi teşvikleri getirecek
Benefits described in the new part of KRS 139 relate to commercial mining
The Governor of Kentucky believes that the region has a real chance to become a leader in the cryptocurrency mining industry:
- First, thanks to tax breaks.
- Secondly, thanks to cheap electricity.
- Third, thanks to the developed infrastructure.
The law provides terminology related to mining and blockchain technologies. It is emphasised that it is about commercial mining. The tax benefit will last from 01.07.2021 to 30.06.2025.
To get tax benefits on income from mining, you need to apply. Authorities will review it. If the company's activities coincide with the law, the application will be approved.
The tax will not apply to the costs of electricity, equipment and other tangible property used in commercial mining of cryptocurrencies.