New Introduced Bill Would Exempt Bitcoin From Missouri Taxes
State Rep. Christofanelli said he wants to create greater economic and political freedom in Missouri.Missouri State Representative Phil Christofanelli introduced a bill on Thursday seeking to exempt bitcoin from property taxes at the state, county, and local levels.“My goal is to ensure Missouri is open to innovation and opportunity as Bitcoin, other cryptocurrencies, and blockchain applications come to the market,” Rep. Christofanelli said in a statement. “This industry has great potential to enhance Missouri’s push to create greater economic and political freedom and I hope to advance....
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Pay your taxes in bitcoin? Maybe, if you live in one of three states now considering bills in support of that option. In January, Utah Republican state representative Mark K. Roberts introduced a bill, H. C. R. 6, to create a Council on Payment Options for State Services that will study how Utah could accept Bitcoin as a valid form of payment. The bill includes the possibility for Utah residents to pay state taxes using Bitcoin. In February, eight New Hampshire state representatives introduced a bipartisan bill, NH HB552, to propose that New Hampshire should officially accept Bitcoin for....
Last year, a New Hampshire State Representative called Eric Schleien introduced a bill that proposed the introduction of a new method of paying taxes in New Hampshire – bitcoin. If passed, the bill would force the state treasurer in NH to, and to quote directly, “develop an implementation plan for the state to accept bitcoin as payment for taxes and fees”. Further, the system (if the bill passed) would need to be in place by 2017 tax collection season. At the time of its introduction bill HR552, as it’s more affectionately known, had bipartisan support from two democratic sponsors and five....
House Representative Suzan DelBene, introducing the latest iteration of the bill, said the United States needs to "ensure that our tax code evolves with our use of virtual currency." A bill previously introduced by Washington Representative Suzan DelBene aims to exempt crypto users from paying taxes on transactions under $200.According to a Tuesday draft of the Virtual Currency Tax Fairness Act of 2022, Washington Representative Suzan DelBene is seeking to amend the Internal Revenue Code of 1986 to exclude gains from certain personal transactions of virtual currency. If signed into law,....
A new bipartisan bill has been introduced in the Senate that would simplify the use of cryptocurrency for everyday purchases by creating tax exemption for personal crypto transactions under $50 as well as when the capital gains are less than $50.
New ‘Virtual Currency Tax Fairness Act’
A new bipartisan bill, known as the “Virtual Currency Tax Fairness Act,” was introduced in Congress Tuesday by Senators Pat Toomey (R-PA) and Kyrsten Sinema (D-AZ).
According to the announcement by the U.S. Senate Committee on Banking, Housing, and Urban....
Lawmakers in New Hampshire have advanced a proposed law that would exempt bitcoin traders in the state from money transmitter requirements. The bill, HB 436, was passed in the New Hampshire House of Representatives yesterday by a vote of 185-170. With the passage, the measure now moves to the state Senate for further consideration. Public records currently do not indicate when the New Hampshire Senate will take up the bill. Specifically, HB 436 seeks to exempt virtual currency users from having to register as money service businesses, while also creating a formal definition for....