{"id":582172,"date":"2024-10-01T08:45:09","date_gmt":"2024-10-01T08:45:09","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=582172"},"modified":"2024-10-01T08:45:09","modified_gmt":"2024-10-01T08:45:09","slug":"ohio-crypto-bill-would-allow-citizens-to-pay-taxes-using-bitcoin-and-other-digital-assets","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/ohio-crypto-bill-would-allow-citizens-to-pay-taxes-using-bitcoin-and-other-digital-assets","title":{"rendered":"Ohio Crypto Bill Would Allow Citizens To Pay Taxes Using Bitcoin And Other Digital Assets"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Pro-crypto Ohio senator Niraj Antani introduced a new bill that will allow citizens of the state to pay local and state taxes and fees using cryptocurrencies such as <\/span><a href=\"https:\/\/insidebitcoins.com\/news\/spot-bitcoin-etfs-hit-365m-in-inflows-as-btc-surges-above-65k-for-first-time-in-two-months\"><span style=\"font-weight: 400;\">Bitcoin<\/span><\/a><span style=\"font-weight: 400;\"> (BTC).<\/span><\/p>\n<p><span style=\"font-weight: 400;\">&ldquo;Cryptocurrency is not just the future, but it&rsquo;s the present of our 21st-century economy,&rdquo; Antani said in a Sept. 30 post on X. He said the recent bill is part of his effort to &ldquo;encourage innovation and free enterprise in Ohio.&rdquo;<\/span><\/p>\n<p><img decoding=\"async\" src=\"https:\/\/assets.editorial.aetnd.com\/uploads\/2009\/12\/ohio-edited.jpg\" alt=\"Ohio &#8209; Map, Flag &amp; County | HISTORY\"><\/p>\n<h2><span style=\"font-weight: 400;\">New Ohio Crypto Tax Bill In Review<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">The timeline for the new bill to potentially come into effect is not yet clear. It is currently awaiting committee assignment and review. Before the bill makes its way to the governor&rsquo;s desk, it will also require a full vote of Ohio&rsquo;s bicameral legislature.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">TODAY: I introduced a bill the legalize the use of cryptocurrency to pay state and local taxes and fees. Cryptocurrency is not just the future &mdash; it&rsquo;s the present. I&rsquo;m proud to be the most pro-cryptocurrency Member of the Ohio Senate. READ: <a href=\"https:\/\/t.co\/9lpYdkoGWT\">pic.twitter.com\/9lpYdkoGWT<\/a><\/p>\n<p>&mdash; Niraj Antani (@NirajAntani) <a href=\"https:\/\/twitter.com\/NirajAntani\/status\/1840745739283988761?ref_src=twsrc%5Etfw\">September 30, 2024<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span style=\"font-weight: 400;\">Should the bill not be passed by the end of December, which is the end of the Ohio legislature&rsquo;s two-year session, it will likely die.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This is not the first time Ohio has explored accepting digital assets for taxes. Back in November 2018, the state left the decision to approve crypto tax payments to the Ohio State Board of Deposits. However, it decided not to adopt digital assets as a tax payment option then.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Critics are concerned about privacy and argue that accepting tax payments in digital assets would allow the government to link personal identities to on-chain wallets.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Other States Have Opened Up To Crypto Tax Payments<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Ohio is not the first state to mull accepting <\/span><a href=\"https:\/\/insidebitcoins.com\/news\/top-cryptocurrencies-to-buy-now-september-30-filecoin-internet-computer-eos\"><span style=\"font-weight: 400;\">crypto<\/span><\/a><span style=\"font-weight: 400;\"> tax payments. Colorado began <a href=\"https:\/\/tax.colorado.gov\/cryptocurrency\">accepting<\/a> crypto for tax payments in 2022. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, refunds are not paid in digital assets. Florida governor Rick DeSantis said in the same year that he wanted businesses in his state to be able to pay their taxes in crypto as well. However, no official proposal has been implemented yet.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">There are also several jurisdictions that have let residents pay their taxes using digital assets. One such jurisdiction is Orlando, Florida, which opened up the option to its residents in 2018.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Related Articles:<\/span><\/h3>\n<ul>\n<li style=\"font-weight: 400;\"><a href=\"https:\/\/insidebitcoins.com\/news\/bitcoin-and-ethereum-dip-ahead-of-jerome-powell-speech-and-jobs-data-as-investors-hope-for-an-uptober-bull-run\"><span style=\"font-weight: 400;\">Bitcoin And Ethereum Dip Ahead Of Jerome Powell Speech And Jobs Data As Investors Hope For An Uptober Bull Run<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\"><a href=\"https:\/\/insidebitcoins.com\/news\/crypto-boy-reviews-crypto-all-stars-as-a-top-presale-with-100x-potential-for-2024\"><span style=\"font-weight: 400;\">Crypto Boy Reviews Crypto All-Stars as a Top Presale With 100x Potential for 2024<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\"><a href=\"https:\/\/insidebitcoins.com\/news\/new-vote-to-earn-meme-coin-flockerz-launches-presale-next-10x-potential-crypto\"><span style=\"font-weight: 400;\">New Vote-to-Earn Meme Coin &lsquo;Flockerz&rsquo; Launches Presale &ndash; Next 10X Potential Crypto<\/span><\/a><\/li>\n<\/ul>\n                                        <div class=\"inContentProviderSingle inContentColor--insidebitcoins fc-row\">\n                        <div class=\"inContentProviderSingle--wrapper\">\n                            <div class=\"container\">\n                                <div class=\"row mb-lg-3\">\n                                    <div class=\"col-12 col-md-8\">\n                                        <p class=\"inContentProviderSingle--title\">Most Searched Crypto Launch - 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