Ohio is the first state to accepts Bitcoins as tax payments

M

mlawson71

Ohio became the first US state to allow bitcoin payments for a wide range of corporate taxes.

Starting this week businesses throughout the state are allowed to use the crypto coin to pay for as many as 23 taxes with just 1% fee, which is a smaller charge than the standard 2,5% credit card fee.

For the time being the authorities in Ohio accept only Bitcoins and not any other of the major crypto coins like Ethereum, Ripple, Monero or Dash. Also, the option is limited to corporate taxes and citizens are not allowed to pay personal taxes with the crypto currency.
 
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Ohio is so smoking crack if they think this will help them alleviate any budget issues, make money on, or whatever. Any errors that creep into this idea will just be eventually passed on to the individual tax payers. Mark my words, nothing good will come out of this.

They are going headlong into something they have no understanding of. Have their budget planners even ever looked at what has happened to this coin over the past 12-15 months?

I would think not.
 
S2007S said:
No thanks....

The amount of work it takes to exchange US currency for a make believe coin only to buy the same goods and services I could buy with original money I had to convert it to bitcoins makes absolutely zero zero zero sense.
More...

Or they're just expecting holders to not be inconvenienced w/fees by paying w/fiat.

I liked someone else's theory that they're just trying to sniff out tax dodgers.
 
Here4money said:
Or they're just expecting holders to not be inconvenienced w/fees by paying w/fiat.

I liked someone else's theory that they're just trying to sniff out tax dodgers.
More...

If they receive bitcoin payments, they can identify who owns which wallet I suppose. As they can link that payment to bills to pay. If that is the case anonimity will disappear quickly when bitcoins will be used frequently.
 
I live in Ohio and the landscape is definitely changing when it comes to politics. I think the reason being is the recent simi-legalization of marijuana laws that passed in 2015 are attracting more liberal sided politics. You know that saying; Follow the money and you'll get your answers.
 
S2007S said:
No thanks....

The amount of work it takes to exchange US currency for a make believe coin only to buy the same goods and services I could buy with original money I had to convert it to bitcoins makes absolutely zero zero zero sense.
More...
%%
You are a better speller than me;
i spell it ''bitcon'' .:D:D
 
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