Category Archives: Virtual Economies

Money for Nothing

Image by Christopher Chan via Flickr Well, not exactly nothing. I direct your attention to the Year in Virtual Goods,where we learn that in the year 2010, people worldwide found a way to spend more than $7 billion real dollars on virtual stuff. Maybe this shouldn’t be surprising, what with 80 million people playing Farmville, […]

Update on Taxation in Virtual Worlds

Looks like the Joint Economic Comittee has made the very reasonable recommendation that virtual transactions shouldn’t be subject to real-world taxation: Based on existing law, if an individual generates cash income in U.S. dollars from transactions in virtual economies, the question may arise whether a tax is due on that real-world income. However, if the […]