Ohio becomes first US state accepting Bitcoin for Tax bills

Ohio becomes first US state accepting Bitcoin for Tax bills

Ohio will become the first state of the United States to accept Bitcoin payments for tax bills, according to a report published by The Wall Street Journal. Ohio will beat other states in the union such as Georgio, Arizona, Illinois, and Wyoming who tried to implement it.

State Treasurer Josh Mandel will implement OhioCrypto.com website as the website that will manage all the processes to allow businesses to pay with BTC as soon as this week. After registering, companies will be able not only yo pay final corporate taxes, but also sales and employee withholding taxes. Mandel affirms that he does see Bitcoin “as a legitimate form of currency.”

According to the website, “Under the leadership of Ohio Treasurer Josh Mandel, taxpayers are able to pay their state business taxes with cryptocurrency for the first time anywhere in America. Ohio has become the first state in the United States, and one of the first governments in the world, to accept cryptocurrency. From mom and pop coffee shops to Fortune 100 companies, businesses now have the ability to pay their taxes with OhioCrypto.com.”

How to pay taxes with Bitcoin?

Companies only need to register in the website, enter tax payment information and pay with the cryptocurrency using regular wallets.

Mandel’s project includes the expansion into individual filers to pay their personal, or family taxes throughout the website. “Treasurer Mandel believes in leveraging cutting-edge technology to provide Ohioans more options and ease while interfacing with state government. The Treasurer’s office is also working to help make Ohio a national leader in blockchain technology.”

Bitcoin will not be legal in Ohio, but tax bills paid with Bitcoin will go to Atlanta-based cryptocurrency payments company BitPay, which will manage the conversion into USD.

Ohio is joining other countries that are accepting Bitcoins as a regular payment method. Malta and Gibraltar are good examples of that.

Recently Similar News

cex-promotion exmo-promotion

Latest Guides

Latest News

Exmo,EXMO Coin,IEO,Updates

Exmo Announce IEO And Request Beta Testing Volunteers

After a fairly quiet period from Exmo, it is now clear to see why as today, they have announced details of a new IEO and a request for volunteers for stop order beta testing on September 26, 2019. The Summer months were busy for the Exmo team. July saw the announcement of a new partnership […]

18 September, 2019
Commission,Exmo,Payment Solution,Updates

Exmo Announce Commission Changes for AdvCash

Every now and then, we hear news from exchange platform Exmo about updates to their payment provider charges. This time they have made some updates to the commission on deposit and withdrawals for the payment service AdvCash. The largest exchange platform in Eastern Europe announced the news via a blog uploaded earlier today, so if […]

17 September, 2019
Exchange Platforms,KuCoin,Law,Listings

KuCoin Delist 5 Projects from their Exchange

As part of their Special Treatment Rule, KuCoin will be delisting a selection of crypto projects from their platform. The Special Treatment (ST) process sees certain coins remove from the platform due to being deemed to have negative or risky qualities associated with them. These qualities can range from the project not providing appropriate information […]

17 September, 2019
Appointment,BitPanda,Exchange Platforms,Updates

BitPanda Welcome New Chief Financial Officer

BitPanda has had an internal shake around and appointed Peter Grausgruber as their new chief financial offer. The news of the appointment was made earlier on their website, where the new man himself explained, “The focus of my career is to help companies grow”. Something he states will be at the head of his priorities […]

16 September, 2019
Binance,Binance Launchpad,Giveaway,Token Sale

Band Lottery Promo Available Now on Binance

Binance has announced a new lottery to users where they can win a $300 worth of tokens each! As we announced last week, the 9th Launchpad project from Binance of the year was confirmed by the exchange platform to be the Band Protocol. This had raised $3 million in seed investments from 3 different lead […]

16 September, 2019
Derivative Trading,eToro,Exchange Platforms,Updates

eToro Unveil New Programming Language To Assist Derivative Trading

The derivative trading platform, eToro has released a new programming language known as Lira, which aims to help simplify the process of for those who trade derivatives. It has been stated that Lira should help reduce risks involved in settling contracts and the creation of new derivative products from assets that are built on the […]

16 September, 2019
CoolWallet,Promotion,Wallets

For a Limited Time, You Can Get a Personalised CoolWallet S

Fancy getting yourself a Coolwallet with a personal touch? Then head over to  CoolWallet now and get yourself a customised wallet for you to store your crypto with your name on it. These new customised CoolWallet S cards are offered in a bid to make cryptocurrency investment more attractive to their users. And of course, […]

15 September, 2019
Giveaway,KuCoin,Promotion

Another 2nd Anniversary Promo Announced at KuCoin, KuMEX FOMO

KuCoin is celebrating their 2nd anniversary and to celebrate they have detailed several new promotions, but it seems they aren’t over yet, with one more outlined for KuMEX FOMO. Earlier this week, we detailed 5 different promotions that will take place over the next 2 weeks, but now there is more which you can get […]

14 September, 2019