Starting tomorrow, businesses operating in the U.S. state of Ohio will have the option to pay their taxes using Bitcoin. The new option is part of the Ohio Treasurer’s efforts to provide cutting-edge innovations and services to taxpayers in the state.
According to the state’s OhioCrypto.com website, Treasurer Josh Mandel’s office is “working to help make Ohio a national leader in Blockchain technology.” Mandel has praised crypto technology, and reportedly called Bitcoin “a legitimate form of currency.”
The option is open to all businesses operating in the state of Ohio and allows them to use Bitcoin to pay a wide range of tax bills, including everything from sales and public utilities taxes to withholding tax, 911 wireless taxes, and 19 other taxes.
The state is partnering with BitPay, which has agreed to assume any market fluctuation risk during the transaction process. To use the option, businesses simply need to register with OhioCrypto.com, enter their tax payment information, and then use one of the site’s approved wallet choices to pay their tax bill.
For now, the payment option is only available for Bitcoin users. However, the Treasurer’s office has suggested that other cryptocurrency options may be available in the future.