‘US State of Ohio Accepts Bitcoin for 23 Types if Taxes’

‘US State of Ohio Accepts Bitcoin for 23 Types if Taxes’

Sources: Shutterstock, State of Ohio, Bitpay, bitcoin.com

My dear Steemians, great news! The US State of Ohio has setup a Cryptocurrency payment portal and started accepting payments in bitcoin for 23 types of taxes this week. Ohio has become the first State in the UNited States, and one of the first governments in the world to accept Cryptocurrency! Under Treasurer Josh Mandel of Ohio, taxpayers are able to pay business taxes for the first time anywhere in The United States of America, and the first government in the world to accept Cryptocurrency. Starting this week, Ohio businesses will be able to go to Ohiocrypto.com and register to pay every business from cigarette sales to employee withholding taxes with bitcoin, and this will extend to individual filers! Eligible taxes are 911 wireless, cigarette, other tobacco products, commercial activity, consumer’s use, direct pay permit, financial institution, interest on lawyers trust accounts, international fuel tax agreement, kilowatt hour, motor vehicle fuel, munipal net profits, municipal tax electric light and telephone, natural gas distribution, non-resident motor vehicle sales tax, pass-thru entity tax, petroleum activity, premium insurance tax, public utilities tax, sales tax, seller’s use tax, severance tax, streamlined sales tax, and withholding tax. Ohiocrypto website also outlined the benefits of paying with Cryptocurrency. Firstly, it is ‘quick and easy’ for taxpayers, the website claims. There are only three steps to follow: a) register on the website, b) enter tax payment amounts and c) tax period dates, and then, using your compatible Cryptocurrency wallet to pay the invoice with bitcoin. Secondly, payments are tracked in ‘real-time on the blockchain.’ Thirdly, they are secured as ‘Cryptocurrencies cannot be transfered to third parties without user initiation,’ the site’s notes adding that transparency is another benefit since anyone can view all transactions on the blockchain. And furthermore, there are mobile options allowing taxpayers to make payments on their phones or tablets. The website also notes that ‘A minimal fee is charged to confirm transactions on the blockchain network.’ This is indeed great advancement in the Cryptoworld and the United States of America! ‘Til then my dear Steemians!

Source credits https://techcrunch.com/2018/11/25/ohio-becomes-the-first-state-to-accept-bitcoin-for-tax-payments/

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