The government of Ohio allowed the companies registered in the state, pay taxes in bitcoin, according to the Wall Street Journal.
The law, signed by the authorities of the region, it is noted that the cryptocurrency can pay all types of taxes and fees — excise taxes on cigarettes to insurance contributions for employees.
As stated by the author of the initiative of the state Treasurer of Ohio Josh Mandel, the adoption of bitcoin as a legitimate means for the payment of taxes to confirm the status of the region as one of the most developed part of the technology in the United States.
“I really believe bitcoin full form of currency,” said Mandel, adding that he hopes that other States will follow the example of Ohio.
To pay taxes with cryptocurrencies entrepreneurs need to register on the portal OhioCrypto.com. Payment processing will be carried out with the mediation processing service BitPay, which will take bitcoin and convert it to Fiat. It is unknown how many companies will be interested in a new opportunity, but, says Mandel, the corresponding requests were received.
According to WSJ, the decision by the authorities of Ohio does bitcoin full currency, but bitcoin provides tacit support. Coin Center Director Jerry Brito has already said that the move “will serve as a signal that bitcoin can be used by anyone – not only by criminals but also by authorities.”
Earlier the possibility to accept bitcoin in payment of taxes considered the States of Arizona, Georgia and Illinois, however, the necessary legislation was not yet adopted. At the same time, Josh Mandel argues that it for the realization of ideas the approval of lawmakers is required.
In may of this year, the possibility of payment of taxes in bitcoin has introduced one of the districts in the state of Florida.
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