Colorado Becomes First US State To Accept Bitcoin As Payment For Taxes
Colorado residents can now pay state taxes with bitcoin and cryptocurrency –– but only with a PayPal account.Colorado has become the first U.S. state to accept bitcoin for tax payments.Gov. Jared Polis announced the implementation of the new payment method on Monday, at Denver Startup Week, according to a report by Axios Denver. Citizens can use cryptocurrency to pay individual income tax, business income tax, sales and use tax, withholding tax, severance tax and excise fuel tax are eligible, per the report. The state government’s Department of Revenue now lists “cryptocurrency” as a....
Related News
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 […]
Governor Jared Polis expects his state to accept bitcoin and cryptocurrency for tax-related purposes by the summer.
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....
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....