Colorado Becomes First US State To Accept Bitcoin As Payment For Taxes

Colorado residents can now pay state taxes with bitcoin and cryptocurrency –– but only with a PayPal account.

By Namcios (https://bitcoinmagazine.com/authors/namcios)

*Link to full article: https://bitcoinmagazine.com/legal/colorado-now-accepts-bitcoin-payments-for-taxes

Colorado has become the first U.S. state to accept bitcoin for tax payments.

Gov. Jared Polis announced the implementation of the new payment method on Monday, at Denver Startup Week, according to a report by Axios Denver.

Citizens can use cryptocurrency to pay individual income tax, business income tax, sales and use tax, withholding tax, severance tax and excise fuel tax are eligible, per the report.

The state government’s Department of Revenue now lists “cryptocurrency” as a payment method among the more well-established debit and credit cards, ACH debit and credit, and cash.

However, users interested in parting with their bitcoin holdings to pay Colorado state taxes need to use a PayPal account.

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