Monday, November 26, 2018

Ohio Will Let Businesses Pay Taxes in Bitcoins

Starting this week, Ohio businesses will have a new way to pay their taxes: Bitcoin. The Wall Street Journal reports (via TechCrunch) that the state of Ohio has opened a cryptocurrency portal, ohiocrypto.com, which will allow businesses to pay with the digital currency.

The WSJ says that Ohio appears to be the first state to allow people to pay with a cryptocurrency, and that the idea originated with State Treasurer Josh Mandel. The site’s FAQ cites the state’s track record with innovation and says that paying via Bitcoin is instantaneous, secure, and transparent. It also lists 23 different taxes that businesses can pay with Bitcoin, ranging from cigarette and tobacco taxes to fuel and sales taxes.

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