Ohio Collects Taxes Paid in Crypto From Two Businesses

10개월 전

Two businesses have paid their taxes to Ohio in cryptocurrency since the state began allowing crypto payments in November 2018.


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State Treasurer Robert Sprague made the announcement in a forum on Feb. 19, but he did not indicate the amount of taxes paid in crypto.

He also clarified that Ohio accepts only the US dollar, and that the state is offering an option to convert crypto to fiat as payment for tax burdens.

We will never accept won or renminbi or francs or cryptocurrency, or any other currency. You have to relieve your debts to the state of Ohio with U.S. dollars. That’s what we’re currently accepting. This platform just allows for that exchange, basically before that debt is settled to the state of Ohio. ~ Ohio State Treasurer Robert Sprague



Ohio is the first state to allow crypto payments for such transactions, and is actively trying to attract blockchain and crypto businesses.

Source





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