Arizona Residents can Now Pay Taxes in Cryptocurrencies

by admin on February 12, 2018

The Arizona Senate on the 8th of February has passed a bill (Bill 1091) that will enable cryptocurrencies for tax payments. The bill was passed with only one member in opposition.

The bill has been sent to the Arizona House of Representatives to be considered for adoption and if adopted, Arizona will be the first state to accept cryptocurrency payments by the year 2020. Tax payers will be allowed to use payment gateways such as Bitcoin and other electronic peer-to-peer systems.

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If the bill is put in place, the Arizona Department of Revenue will have to convert the cryptocurrency payments within 24 hours.

Read the full story here

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