Content adapted from this Zerohedge.com article : Source
Authored by Helen Partz via CoinTelegraph.com,
Great news for Bitcoin?
The Arizona Senate passed a bill on Feb. 8 to allow residents in the state to pay their taxes with cryptocurrencies, public records indicate.
The Arizona Senate is the first state in the Union to take up a bill which would enable paymens to the state in Bitcoin or other cryptocurrency.
If the bill is adopted, Arizona would become the first state in the U.S. to accept cryptocurrency tax payments by the year of 2020, as stated on the public record. The bill would allow taxpayers of the state to use “a payment gateway, such as Bitcoin, Litecoin or any other cryptocurrency recognized by the department, using electronic peer-to-peer systems.”
Aizona want to use Bitcoin as a "gateway" currency.
According to the bill, the Arizona Department of Revenue, upon receiving payments in crypto for “tax and any interest and penalties”, would be obligated to convert the cryptocurrency payments to U.S. dollars within 24 hours.
Are there a lot of Bitcoin hodlers in Arizona?
The Arizona House of Representatives can guarantee there will be more if it passes this bill.
Stay tuned.
Non-adapted content of this Zerohedge.com article:
https://www.zerohedge.com/news/2018-02-11/arizona-senate-passes-bill-allow-tax-payments-bitcoin
Disclaimer : Account 