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Ohio Will Let Businesses Pay Their Taxes With Bitcoin

Sofia in Markets & Trading

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Sofia    + 35

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Starting this week, Ohio businesses will have a new way to pay their taxes: Bitcoin.
Employers in this state can now use the cryptocurrency to pay for as many as 23 business taxes. Using bitcoin will come with a 1 percent fee, which is less than the 2.5 percent fee when businesses pay with credit cards.

Bitcoin is the only form of cryptocurrency that the state is accepting at this time, and the option is limited to businesses. Individuals are not permitted to use bitcoin to pay their taxes.

Other states around the country also considered accepting bitcoin for taxes, but those initiatives in places like Arizona, Georgia and Illinois never got past state legislatures.

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