The first US State to accept Bitcoin for tax payment


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The price of Bitcoin may be falling down, but the applications of Bitcoin keep going up. The US State of Ohio has now ruled that Bitcoin will be accepted for 23 types of taxes. The State of Ohio has already established a special cryptocurrency payment portal and will start accepting the “people’s currency” any time this week.

Ohio is making history with such a decision, as there is no other US State that is accepting any form of cryptocurrency for taxes or wider usage. Moreover, Ohio is one of the very few jurisdictions in the world currently accepting Bitcoin as an official payment type.

According to Bitcoin.com, the website of Ohio is called Ohiocrypto.com, which is basically the tax payment portal. The Ohio Treasurer, Josh Mandel, has ordered that a business need not have its headquarters in Ohio to take advantage of the new tax payment.

The Wall Street Journal and Bitcoin.com reported that businesses in Ohio will be able to easily pay a variety of taxes, such as cigarette sales tax, through the crypto payment portal.

Bitcoin will be accepted for 23 different tax payments, including cigarette sales tax, international fuel tax agreements, gas distribution, any petroleum activity, public utilities tax, severance tax, withholding tax and many more.

The State of Ohio is very proud of introducing the Bitcoin-payment option, as the payment portal lists the advantages of paying with crypto. The process is easy and quick to service taxpayers. Also, the payment is secure and tracked in on a real-time basis through blockchain.

While for now, Bitcoin is the only accepted payment, Ohio hopes to be able to add more digital coins to the platform, so that taxpayers can choose from a wider variety of payment types.

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The first US State to accept Bitcoin for tax payment

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