#34 - David Kerr: The UNA framework for DAOs
Law of Code
Is There a Tax Benefit to the Token Holders?
Existing case law establishes that restrictions on an asset holders ability to exercise a dominion of dominion is in itself an exercise of dominion and control sufficient to create an income event. However, there's no justification that the tax liability should be attributed to the token holders themselves unless they're imputed ownership of the treasury through a pass through entity structure. How would that work if the tokens don't exist yet? So you have to look at how it all fits together because I was really excited with the possibility of doing just in time treasury disbursements. But then when we talked with industry folks, they were less excited about it because it conrugated the purpose of the treasury for their purposes. And
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