Ohio becomes the first state to accept bitcoin for tax payments
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.
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