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this Act and file returns for the subsequent year. If, at the end of a one-year period, a broker that was required to collect and remit the tax imposed under this Act determines that the broker did not meet the threshold during the preceding 12-month period, the broker shall subsequently determine on a quarterly basis, ending on the last day of March, June, September, and December, whether the broker meets the threshold for the preceding 12-month period. "Exchange", when used as a verb, means to exchange, buy, sell, trade, or convert, on behalf of a customer, either of the following: (1) a digital asset for fiat currency or one or more forms of digital assets; and (2) fiat currency for one or more forms of digital assets. "Exchange" does not include buying, selling, or trading digital assets for a person's own account in a principal capacity. "Fiat currency" means a medium of exchange or unit of value issued by the United States or a foreign government that is designated as legal tender in its country of issuance. "Person" means any natural individual, firm, partnership, association, corporation, limited liability company, or trust; any receiver, executor, trustee, guardian, or other representative appointed by order of any court; or any other SB3019 Enrolled LRB104 20255 HLH 33706 b Public Act 104-0468