justusranvier
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July 17, 2014, 07:12:42 PM

This means "no holding onto excess liquitdity (profits) in BTC". You will have to denominate all business profits in fiat, pay the man his cut for doing business in his state, and then do with your remaining fiat as you like. But the state of NY seems to say you can't just pocket the BTC like it is property (what the IRS thinks it is) and walk away to pay the taxes another day. Bad news there....
Easily bypassed, with only a slight amount of imagination required.