Well, technically…
Ohio has become the first state in the nation to start accepting bitcoin as payment for taxes. Companies can get in on the program by going to OhioCrypto.com and register to pay their taxes in crypto. These taxes, according to the Wall Street Journal, run the gamut from cigarette taxes to employee withholding taxes. The program is Ohio state treasurer Josh Mandel’s baby; it’s meant to signal Ohio’s transition to a tech-friendly state.
There are, however, some caveats. For one, Ohio isn’t actually accepting bitcoin in payment. It’s using BitPay as an intermediary to change these payments to actual, legal tender; a.k.a. dollars. The other problem is that cryptocurrency is highly susceptible to fluctuation in value; more so that most actual currencies. And, worse, in case you’ve been living under a rock, the entire cryptocurrency market seems to be cratering. Which i find pretty funny, because I hate writing about it. Outside of true believers, it’s a bubble every time.
Source: TechCrunch
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