Colorado accepts tax payments in crypto: Was it just a matter of time?
Colorado is set to accept tax payments in crypto. To some experts, it’s only a matter of time before other U.S. states follow suit. The governor of Colorado, Jared Polis, announced in February that the state government plans to allow residents to pay taxes in cryptocurrencies as early as the summer of 2022. To some experts, the move is both legitimizing for the crypto asset class and was expected to come in due time. In an interview, Polis said crypto holders in Colorado could have the option of sending tax payments in digital currency, with the state converting the funds back into fiat as....
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The Colorado Department of Revenue offers tax payment through the PayPal Cryptocurrency Hub for personal taxes; businesses are not eligible yet. The American state of Colorado now accepts cryptocurrency for tax payments, Gov. Jared Polis announced on Monday. The option is already available on the state Department of Revenue website. Colorado tax payments are accepted through the PayPal Cryptocurrency Hub with service fees of $1.00 plus 1.83% of the payment amount. Payments are accepted only from personal accounts in a single cryptocurrency. Businesses cannot pay their taxes via crypto....
The U.S. state of Colorado is preparing to accept cryptocurrency for tax payments, said Governor Jared Polis. “We expect to accept crypto by this summer,” he said, adding that after tax payments, crypto will be accepted for other things like driver’s licenses or hunting licenses. Colorado to Accept Crypto for Tax Payments The governor of the U.S. state of Colorado, Jared Polis, talked about his state’s efforts to become the leader in cryptocurrency acceptance in an interview with CNBC Tuesday. Regarding his state accepting cryptocurrency for tax payments, he....
Colorado residents will be able to pay their state taxes in cryptocurrency by the middle of this year, according to the state’s governor. The governor also said that the objective is to eventually accept cryptocurrency for all payments made in the state. Colorado Moves To Adopt Crypto In an interview with CNBC on Tuesday, Gov. […]
The American state of Colorado will now accept cryptocurrency for tax payments, and residents of the city who wish to use this facility can finally start to do so. Governor Jared Polis recently announced this development. The provision to pay for taxes through digital tokens has now been made available on the state Department of […]
Colorado is now accepting crypto for tax payments — but if you choose to use that option, it could change the amount you owe. Colorado is accepting crypto as payment for any taxes owed to the state as of Sept. 1. It was the result of a promise made earlier in the year by Colorado Governor Jared Polis, who has proven his commitment to establishing the state as pro-cryptocurrency.Colorado isn’t the only U.S. state trying to incentivize cryptocurrency investment within its borders, as legislatures in Arizona, Wyoming and Utah have all previously introduced bills to accept tax payments in the....