Much has been said about the legal implications of DAOs, but little attention has been paid to the tax and reporting considerations for DAOs and their token holders.
A decentralized autonomous organizations (DAO) is an organization that is managed by a computer program powered by blockchain and run by a group of individuals who collectively vote to decide on organizational proposals. Typically, each member’s voting power is determined by their percentage interest in the DAO, which is calculated by dividing the digital assets contributed by a member by the total amount of digital assets in the DAO. A DAO generally (but not always) operates without the need for a board of directors or other governing body and can provide an effective and (potentially) secure platform to gather individuals and resources to achieve a collective goal. Many DAOs are formed to make investments. A typical DAO activity starts with investors transf
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