Tuesday, November 27, 2018

Crypto, Taxes & Ohio

“I believe in leveraging technology for the democratization of finance. I think one of the reasons why there is a growing interest in bitcoin is because it empowers individuals and gives them more freedom and options." - State Treasurer of Ohio

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ax payers in Ohio now have an option to use bitcoin as a payment method for their state tax payments (23 taxes in total).

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It seems to be that paying taxes with crypto is also a taxable event. However, it's a step towards a "closed loop system": receiving salaries in crypto, paying bills in crypto, and paying taxes in crypto.


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