Paul L. CaronDean
Wednesday, June 1, 2005
By Paul Caron
Back in December, we reported on Virtual Taxes: The Next Frontier in Virtual Property Rights in On-Line Gaming? Sunday's New York Times picked up the theme in The Game is Virtual. The Profit is Real (5/29), which discussed the growing market for virtual property used in on-line games like Second Life, The Sims, Ultima Online, and World of Warcraft. Players buy and sell virtual property on sites like eBay, Ige, and Gamingopenmarket, with the Times noting annual profits of 25k, 100k or more taxable to the gamers. Some of the sites even allow on-line charitable contributions.
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