So, lets do some math here, business-professionals of AIRcoin...
AIA stands for the Allied Investors Association. It was started by Thomas Jackson, with a private group of investors, students, and professors at a University in the United States. Originally they invested in Stocks, Forex, Options, and other older financial markets, but now put their focus to the future: Cryptocurrencies.
Or, in other words, if Satoshi Nakamoto is the Genius Father of Cryptocurrency as an advancement in cryptotechnology, then Thomas Jackson is its Genius Uncle as an advancement in cryptotechnology in world economics.
What is the University policy for, "using University resources for personal gains". (That includes teachers, students and facility hardware.) Will the University be claiming this income? I can't seem to find your "registration as an LLC", anywhere.
2,500,000 AIRcoin premine. (Coins mined, prior to public-allowance. Property/earnings of the development team.)
First public market "fair-value" date was March 14th 2014 23:00:00, at an opening price of 0.002 BTC/AIR, which places BTC's value at about $630.00.
Simple: (($630.00 USD/BTC * 0.002 BTC/AIR = $1.26 USD/AIR) * 2,500,000 AIR = $3,150,000 USD) * 20% taxes =
$630,000 USD taxes owedALT Calc: ((2,500,000 AIR * 0.002 BTC/AIR = 5,000 BTC) * $630.00 USD/BTC = $3,150,000 USD) * 20% taxes =
$630,000 USD taxes owedTaxes due quarterly for businesses, not yearly. Ouch! (Oh wait, that quarter ended on the 31st of March. I am sure the IRS will overlook that in an audit. xD I hear the IRS is real understanding to things like that.)
Now... if that "realized income" ends-up being "realized" at only 1.5 BTC, at today's prices... That would be a "realized value", as a loss, thus, not taxable on those "gains of income". Then your "taxes" would be adjusted as such, a "loss" in "gains and losses". Just throwing some food for thought out there. (Until that is "realized", you will be forced to pay taxes on the "estimates of value", at "fair market value". You would not get money back, if later it turned into a loss. The govt. does not work that way. Since, after all, it is all 100% "mined income". You mined it.)
P.S. Didn't you also admit to making an additional 1.5 BTC from AIR... Guess that was made at a higher price than the opening 0.002 BTC/AIR. The IRS may want to adjust for that "realization of value". I'll have to ask them tonight, when I sit down to dinner with the employee living in my house.
Want me to ask her anything specific?
P.P.S. I'll have a nice set of "losses" to use as tax-write-offs this year, if all goes well. But hey, that can change. (I am still sure it will. For us.)
P.P.P.S. Or the coins could be "destroyed", with a "realized value" of $0.00, thus, no income. (So, in your trade formulas, after the 20% taxes, you will have to make at-least 5% additional, to fill the "claims" of "5% constantly rising value", just to make 0% yourselves, unless you cash-out the premine, which has already been claimed in taxes. Oh, I believe the $3-million mark places you in luxury-taxes for income BTW, as a business. Not sure if the 20% us common people pay for gains and losses applies to those in "luxury tax-brackets". Might be closer to 35% for you guys, as individuals in the company. This will be interesting.)
As an "Investor", I like to know how these things are handled, before investing further. As a large holder of investment, I demand to know the answers to these things. Though, there are others with greater holdings than I. Proof required, not just statements, since, after-all, this is a "business", where essentially, by law, you are selling shares and we are "employees contracted to mine the rest of our earnings", which you said you will "control".
P.P.P.P.S. My bid is still up, to buy all of existing AIR.
("Investors" not recommended to sell at my bid-offer, only AIRteam.)
P.P.P.P.P.S. At least AIR is semi-legitimate, though, seeming to be wrapped in red-tape. I got the scissors. Turn this into a media-frenzy. Double-bonus, after the tape is cut.P.P.P.P.P.P.S. Welcome to the world of Crypto-coins. This is not just YOUR money you are playing with. This isn't a game.