Ohio becomes the first state to accept bitcoin for tax payments

by | Nov 26, 2018 | Bitcoin, Cryptocurrency, Cryptocurrency News

Ohio | Bitcoin As Tax Payment | Bitcoin | BitPay

Bitcoin News: Ohio sets itself on the pedestal of being the first state to accept Bitcoin(BTC) as tax payments. From today onwards, businesses in Ohio could pay their taxes in bitcoin, all they have to do is register themselves in the plan.

According to a report in The Wall Street Journal, the interested companies could pay off any of their taxes, ranging from cigarette sales taxes to employee withholding taxes. The registration is to be done on OhioCrypto.com.

The brainchild Josh Mandel, the current Ohio state treasurer, the allowance is to accommodate the state’s broader ambitions to re-evolve itself as a more tech-friendly image. Ohio already hosts a technology hub that is forming in Columbus, Ohio, home to one of the largest venture capital funds in the midwest, Drive Capital. In addition, Cleveland is trying to re-establish its cryptocurrency’s image to be rebranded as “Blockland”.

Bitpay will be employed the sate to set-up and handle the cryptocurrency payment to convert bitcoin to dollars.

Arshmeet Hora

The idea of expressing one’s views and reviews through words is beyond intriguing. What started as a creative let out has now become a passion and a profession for Arshmeet K Hora. In her own words ” with every word, every article that I write, my passion towards this medium has grown stronger.”  Arshmeet covers latest crypto news and updates as well as what happening new revolving around Blockchain Technology.

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