Bill to pay taxes with cryptocurrency introduced at the Statehouse
DAYTON, Ohio (WDTN) — A new bill introduced at the Statehouse could create an additional method for Ohioans to pay certain taxes.
State Senator Niraj Antani (R-Miamisburg) introduced Senate Bill 317, which aims to have Ohio and “local political subdivisions” to accept cryptocurrency as payments for local and state taxes and fees.
Antani believes that it is time that cryptocurrency is normalized, especially with payment methods.
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“If we want to encourage innovation and free enterprise in Ohio, we should do everything we can to normalize these use of cryptocurrencies,” said Antani. “By allowing Ohioans to pay their taxes and fees with cryptocurrency, we will be on the cutting edge.”
According to Antani, the bill would also allow state universities and pension funds the ability to invest in cryptocurrency.
If passed, the state’s tax commissioner would define which cryptocurrency methods are acceptable as payment methods annually by June 30.
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