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CNN —The world’s first underwater sculpture park has just gotten a lot bigger. Created by British sculptor and ecologist Jason deCaires Taylor in 2006, the Molinere Bay Underwater Sculpture Park in Grenada is now one of the Caribbean country’s most popular underwater attractions. Underwater attractionThe Molinere Bay Underwater Sculpture Park in Grenada has expanded, with the addition of 31 new sculptures. According to deCaires Taylor, marine life had already made itself at home within the sculptures days after they were installed. I haven’t seen that before.”This also marks the first time deCaires Taylor has introduced color into his underwater sculptures.
Persons: Jason deCaires Taylor, ” deCaires Taylor, It’s, deCaires Taylor, Troy Lewis, Bianca C, , Dickon Mitchell, , he’s, Hurricane Ivan, “ I’d, ” “ It’s, it’s, ” He’s, “ I’m Organizations: CNN, Grenadian Ministry, CNN Travel, Visitors, Museum of, Art, Museum Locations: British, Grenada, Caribbean, Marina, Australia, Napa, Cyprus, Carriacou
Consider this a public service announcement for all treasure hunters: Uncle Sam wants a piece of your loot. Someone who makes a valuable discovery — whether gold coins, meteorites or even cash — generally owes tax on that haul, which is known as "found" property. More from Personal Finance:How to leverage 0% capital gains with this lesser-known tax strategyLawmakers weigh tax rule 'backslide' for Venmo, PayPal usersIRS unveils 'paperless processing initiative' for taxpayers"Is there a treasure-hunter exclusion?" The haul would therefore be taxed at ordinary-income tax rates. These tax rates (which also apply to income like job wages) are up to 37%.
Persons: Uncle Sam, Troy Lewis, Lewis, it's Organizations: Brigham Young University ., Finance, Venmo, PayPal, IRS
Noam Galai | Getty Images Entertainment | Getty ImagesHow the IRS plans to tax NFTsNFT enthusiasm swelled in recent years along with the popularity of cryptocurrencies such as bitcoin . An NFT offering a right to use or develop that virtual plot also generally isn't a collectible, the IRS said. Profit on those sales is taxed at ordinary income tax rates, which apply to wages, for example. (There are seven marginal tax rates, ranging from 10% up to 37%.) These tax rates are generally lower than ordinary income tax rates.
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