Want to pay your taxes with Bitcoin? If you live in Ohio that won’t be a problem starting November 26, 2018.
The Wall Street Journal broke the story, followed by an article released on TechCruch.
It appears Ohio plans to be the first state to accept Bitcoin as tax payments. Beginning Monday November 26, 2018 businesses in Ohio will be able to pay their taxes with bitcoin, making the state the first in the United States to officially accept cryptocurrency.
The state is also using the domain name OhioCrypto.com for its website to allow companies to register.
Being that the domain is OhioCrypto.com and not OhioBitcoin.com leads me to speculate that the state may also accept other forms of crypto in the future besides just Bitcoin to make tax payments.
OhioBitcoin.com is currently developed as a cryptocurrency market capitalization website listing the top 100 cryptocurrencies.
According to The Wall Street Journal the initiative would allow companies to register at OhioCrypto.com to pay whatever taxes they desired. Anything from cigarette taxes to federal withholding taxes and more could be paid.
Ohio state treasurer, Josh Mandel stated “The bitcoin program is intended to be a signal of the state’s broader ambitions to remake itself in a more tech-friendly image.”
Ohio has somewhat of a technology – startup hub forming as Cleveland, Ohio is trying to rebrand itself as “Blockland” to give it more of a crytpocurrency image. Also in Columbus, Ohio Drive Capital is one of the largest venture capital funds in the midwest which technology and all other startups need.
Ohio is currently working with BitPay to handle payments and convert Bitcoin to dollars. I would speculate that the state may also accept other forms of crypto in the future once Bitcoin gets implemented if all goes well.
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Jason Franklin is a forward thinker, servant leader, technology enthusiast and humanitarian. His mission is to make a positive impact on humanity and the world a better place.
Jason is involved in technology, startups, energy, real estate, science, philosophy, volunteering and outreach.
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