Ohio is becoming the first state in the U.S. to accept state tax payments through cryptocurrency, reports Michael Cohn for TaxProToday. It's a big move by the state, which is partnering with a payment processor to launch OhioCrypto.com, a site allowing businesses to pay their taxes with cryptocurrency.
Cohn reports that there are 23 different types of business taxes eligible for payment on OhioCrypto.com, including Streamlined Sales Tax (see Congress pushes for order in esales tax collections).
With Ohio as the test case, we'll be eager to see if and when other government entities feel confident enough to add crytocurrency payments to their tax
Check it out: Ohio to accept business tax payments in cryptocurrency
Let's talk tax
Registering a business for sales tax sounds simple. But it can be fraught with contention and bring up concerns as requirements become known. Learn to navigate the process with Tax Specialist Judy Vorndran during this 1-hour, free-CPE webinar.
Subscribe to Our Blog
Specialties: #taxpayment, #salestax, #cryptocurreny