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You Can Pay Taxes with Bitcoin in Ohio

A new law in Ohio will allow businesses to pay corporate taxes with Bitcoin, and soon will open the same option up to individuals.

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By Mason Mohon | @mohonofficial

Bitcoin has had a rough couple of weeks, but the state of Ohio may have some good news for the cryptocurrency community. According to a report from the Wall Street Journal, taxes in Ohio can now be paid using Bitcoin.

Currently, this option only applies to businesses within the state, but the state government has expressed plans to open the option to individual taxpayers soon. Ohio-based businesses will be able to pay the taxes through the Bitcoin payment service BitPay.

If this isn’t enough to get cryptocurrency enthusiasts excited, statements by the state treasurer may. The Treasurer, Josh Mandel, expressed that he would like to “plant a flag” when it comes to the recognition of cryptocurrencies as a viable currency. He hopes that this will be the first step when it comes to national recognition of cryptocurrency. He stated:

“I do see [bitcoin] as a legitimate form of currency.”

He has decided to circumvent the state legislature, making clear that his office will accept digital currency until his term ends in January. He is also “confident that this cryptocurrency initiative will continue” as his lame duck session nears its end.

Other states have attempted similar action. In May, Arizona sought to pass legislation that would allow citizens to pay taxes with Bitcoin. The passage has been delayed because of amendments.

Georgia’s state house introduced a similar piece of legislation, but it met a far more grim demise. Its status reads: “25% progression, died in committee.”


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