Two companies in Ohio pay taxes with cryptocurrencies, said state Treasurer Robert Sprague (Robert Sprague).
Ohio became the first state in which the company had the opportunity to pay taxes bitcoin. The program, implemented in partnership with payment processor BitPay, was launched in November 2018.
The Treasurer said that cryptocurrency payments will be made through the platform, which provides for the exchange of cryptocurrency for dollars.
“We’ll never take the won, yuan, francs, crypto-currency or any other currency. You must extinguish your debts in Ohio by U.S. dollars. It’s something we now accept. This platform allows to implement such exchanges, mostly before the debt will be repaid in Ohio,” said Robert Sprague.
He added that the Treasury is considering extending the program, as well as exploring the potential risks between contractor and supplier.
The Treasurer did not name the company and the amount of tax payments that have been received via cryptocurrency. Previously, online retailer Overstock.com said he would pay Ohio tax on commercial activities (CAT) bitcoins.