
Ohio Becomes First U.S. State to Accept Bitcoin for Tax Payments - twitchchat
https://www.investinblockchain.com/ohio-accepts-bitcoin-for-tax-payments/
======
sctb
Previously:
[https://news.ycombinator.com/item?id=18543815](https://news.ycombinator.com/item?id=18543815).

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inscionent
> On the official Ohio Treasurer’s website, they explain why they are adopting
> crypto payments:

> Cryptocurrencies cannot be transferred to third parties without user
> initiation, thereby practically eliminating fraud;

[https://www.cnbc.com/2018/06/07/1-point-1b-in-
cryptocurrency...](https://www.cnbc.com/2018/06/07/1-point-1b-in-
cryptocurrency-was-stolen-this-year-and-it-was-easy-to-do.html)

[https://www.marketwatch.com/story/steve-wozniak-
had-70000-in...](https://www.marketwatch.com/story/steve-wozniak-had-70000-in-
bitcoin-stolen-after-falling-for-a-simple-yet-perfect-scam-2018-02-28)

[http://fortune.com/2018/02/14/bitcoin-cryptocurrency-
blockch...](http://fortune.com/2018/02/14/bitcoin-cryptocurrency-blockchain-
wallet-hack/)

~~~
ForHackernews
The Ohio Treasurer has a very dry sense of humor.

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markovbot
>OhioCrypto.com

Wow, didn't even get a .gov, attempt to redefine "crypto" to cryotocurrency vs
it's long held meaning of cryptography.

This whole thing seems rather silly and I'd like to read an article about it
not from a pro-cryotocurrency site.

~~~
andrewla
Forbes [1] has relatively neutral coverage. It is surprising that they didn't
get a .gov for this -- it makes the whole thing look kind of phishy.

[1]
[https://www.forbes.com/sites/kellyphillipserb/2018/11/26/ohi...](https://www.forbes.com/sites/kellyphillipserb/2018/11/26/ohio-
becomes-the-first-state-to-allow-taxpayers-to-pay-tax-bills-using-
cryptocurrency/)

~~~
bitxbitxbitcoin
Inb4 a phisher makes OHlOCRYPTO.ORG.

------
cf141q5325
>Once registered, companies are able to use crypto to pay 23 kinds of business
taxes from sales tax, utility tax, to employee withholding taxes and more.
BitPay, a crypto payments service provider based out of Georgia in the United
States, will process all crypto tax payments.

About the processing volume

[https://support.bitpay.com/hc/en-
us/articles/206003676-How-d...](https://support.bitpay.com/hc/en-
us/articles/206003676-How-do-I-raise-my-approved-processing-volume-tier-
limit-)

They look like the anti money laundering limits, anyone know how much bitcoins
they actually take with a single transaction?

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ucaetano
And then you need to pay taxes on the bitcoin used to pay the taxes!

Well, only if you bought it a while back, in the early stages of the pyramid.

~~~
bitxbitxbitcoin
You need to have paid taxes on the USD you use to pay taxes, too. Just saying.

~~~
ucaetano
Not really. Paying the taxes with USD doesn't generate a taxable event. Paying
with Bitcoin does.

Sure, you could say "Technically, you'd pay taxes on earning those USD...",
but anything said after "technically" is irrelevant to the discussion.

