2023 Federal Tax Payment Proposal (VERY IMPORTANT)

Overview

As a result of filing our DAO 2023 Federal Tax Return, the DAO owes $60k in total Federal taxes. This proposal aims to secure the necessary funding to pay these taxes and ensure the legal legitimacy of our DAO. This will be a one off, large payment to cover the taxes. The accounting firm's costs were accounted for within the DAO Operational Budget for 2024 and have been paid.

FrankenDAO Benefits

-Maintains legitimacy of the DAO legally -Legal Safeguard as Crypto becomes more mainstream

Timeline

This proposal will be executed once the funds are sent out after the proposal is passed. This will be a one time payment to cover all the Federal taxes for 2023.

Execution plan

Essentially the same as “Budget and Fund Utilization”. This will be a one time payment to ensure the legal legitimacy of our DAO and account for 2023 Federal taxes. The responsibility of transferring these funds to the necessary recipient to pay these taxes will fall to the core Frankenpunks team. After the payment has officially been made, we will address it in the townhall the following week.

Budget and fund utilization

-Total Cost=$60,000 (15.79 Eth @ $3800) -One time bulk payment to cover 2023 Federal Taxes that was provided by CryptoEdge Consulting, LLC -Wallets will be sent to the DAO Operational Wallet when executed and then shortly after sent to the necessary address to pay the taxes for 2023.

What areas of the community does this touch?

FrankenDAO

Proposed transactions

Transaction #1 FrankenDAO sends 16 $ETH to 0xb96B3d15FAA72b96f645f8E11732A4cC0E2592cA