Ohio Businesses Could Pay Taxes in Bitcoins

Ohio is poised to accept BTC as a tax payment, first among US States, according to WSJ.

WSJ reports that at first taxation in Bitcoins will be able only for the business. Starting next week, the business could pay all taxes in crypto. BitPay will act as a processing intermediary in this scheme. In the future authorities plan to offer such an option to ordinary citizens.

The WSJ claims that state Treasurer Josh Mandel, known for its positive attitude toward cryptocurrencies, has initiated the innovations. According to Mandel, Bitcoin is a legitimate form of money, and Ohio should be the foremost state in the implementation of cryptocurrency.

1 year ago

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