Ohio companies will be able to pay taxes with bitcoins starting this week | CryptoNews

The state of Ohio could become the first in the United States to accept bitcoin for the payment of business tax. It was published on November 25 through an exclusive newspaper The Wall Street Journal.

According to the note published in WSJ, the initiative was promoted by State Treasurer, Josh Mandel. "I see (a bitcoin) as a legitimate form of currency"Said Mandel, who expects the measure to be extended to other states.

It should be noted that this option will be available for Ohio businesses starting this week, who must register on the OhioCrypto.com website to pay all kinds of taxes with "bitcoins", tax on the sale of cigarettes to the tax on the retention of taxes.

Tax payments will be processed via the BitPay service, which will exchange bitcoins for dollars to be sent to the Treasurer's Office in the state of Ohio. Mandel explained that this would be possible because it does not require the approval of the laws nor the governor for his office to accept cryptocurrencies.

It is not clear for sure how many companies will use this service, but Mandel pointed out that some companies have requested it. On the other hand, although the option is only available for the business sector at the stage of implementation, there is an intention to include individual taxpayersalthough it was not specified from when.

The state treasurer also told the WSJ that once his term ended in January, the option of paying taxes with the BTC in Ohio would remain: "I'm sure this initiative cryptocurrency will continue, "he said.

Last March, an Illinois lawmaker offered to accept bitcoins and other encrypted currencies for the payment of taxes. Previously, lawmakers from Georgia and Arizona had also submitted bills for the same purpose. However, in none of the three states have the projects been clarified.

It should be noted that in the United States, the use of bitcoin as a medium of exchange is not prohibited. Government agencies have viewed cryptocurrencies as a form of payment, as in the case of the United States Citizenship and Immigration Service and the Seminole County Tax Office in Florida, which has a number of government agencies. is also badociated with BitPay to facilitate the payment of license fees. driving, identity cards, titles and taxes on the property of their citizens, in a step that allowed this county to be the first to allow its residents to pay their taxes in bitcoin and in bitcoin money.

The selected image of steheap / stock.adobe.com