Ohio Firms can Pay their Taxes Using Bitcoin

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Starting this week, businesses in Ohio will be able to pay their taxes using Bitcoin. Engadget reported that the service could eventually be expanded to accept payment of personal taxes. According to the Wall Street Journal: “Ohio businesses will be able to go to the website OhioCrypto.com and register to pay everything from cigarette sales taxes to employee withholding taxes with Bitcoin.”  Ohio is the first state to allow taxes to be paid via Bitcoin. The change was pushed forward by Ohio state Treasurer Josh Mandel.

This doesn’t eliminate the regulatory concerns around cryptocurrency, and it’s doubtful that more than a handful of businesses will use it. It’s happening in Ohio precisely because state Treasurer Josh Mandel says he can do it without requiring help from the legislature or the governor. It could be considerably more difficult to implement this by passing a bill.

Check It Out: Ohio Firms can Pay their Taxes Using Bitcoin

Ohio Firms can Pay their Taxes Using Bitcoin
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