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What would be a good analogy to distinguish it from income?
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Gold. When gold is mined the mineral it isn’t counted as taxable income. When you think of it deeper which commodity is taxed as income at point of being extracted. Does Exxon Mobil pay taxes for every barrel of oil they mine. They pay taxes on revenue generated from the sale of the oil
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Interesting. I didn't know how that worked, but it makes sense that only the sales are taxed.
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Makes sense!
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Now they need to fix mining revenue treating it as income is ridiculous