Ohio is becoming the first state in the U.S. to accept state tax payments through cryptocurrency, reports Michael Cohn for TaxProToday. It’s a big move by the state, which is partnering with a payment processor to launch OhioCrypto.com, a site allowing businesses to pay their taxes with cryptocurrency.
Cohn reports that there are 23 different types of business taxes eligible for payment on OhioCrypto.com, including Streamlined Sales Tax.
With Ohio as the test case, we’ll be eager to see if and when other government entities feel confident enough to add crytocurrency payments to their tax systems.
Check it out: Ohio to accept business tax payments in cryptocurrency
Let’s talk tax
Judy Vorndran can be reached at firstname.lastname@example.org or 720.227.0093. Follow Judy on LinkedIn.