Home Blockchain Ohio all set to become the first USA state that accepts Bitcoin...

Ohio all set to become the first USA state that accepts Bitcoin as payment

Earlier in the week, a report published in The Wall Street Journal revealed that The state of Ohio would start accepting Bitcoin for Ohio business tax payments, reportedly starting from this week.

As per reports, Ohio would be the first USA state to accept a cryptocurrency as the tax payment.

In a segment with OhioCrypto.com, Josh Mandel the Treasurer of Ohio said that despite Bitcoin struggling to get recognized as a widespread form of payment, it does possess several benefits for business tax payments such as being trackable, incurring low fees, transparent, being quick and easy as well as permitting taxes to be paid via mobile devices.

As per reports, Bitcoin can be used to pay as many as 23 taxes that includes withholdings taxes as well as sales tax.

The Ohio Treasury also revealed that it has already begun work for adding more accepted cryptocurrencies in the future.

According to the data published by OhioCrypto.com, it states that the payment option is in accordance with the initiative of integrating blockchain technology into parts of Ohio’s government.

The statement published by OhioCrypto.com reads as follows, “In order to provide Ohioans more options and ease while interfacing with state government, Treasurer Mandel firmly believes in leveraging cutting-edge technology. The Treasurer’s office is working quite diligently to help make Ohio a national leader in blockchain technology.”

Back in August, a press conference was held by Ohio Speaker Ryan Smith which was attended by business leaders, politicians as well as academics to blockchain’s potential in Ohio. At the time of the conference Smith stated, “Because this is so new and this is just beginning to take shape, we can position Ohio out front.”

Quite notably, in that very month of August, a law was passed by Ohio, wherein Blockchain data was officially recognized as a form of electronic record.

 

mm
Safdarali Rizvi
Safdarali Rizvi the management graduate. Has been an avid book reader all his life so naturally loves playing with his words. His curiosity for discovering futuristic opportunities drives him to enlighten the entire Geekymint team with exclusive and intriguing news. He has a real passion for calisthenics and sports. His management abilities and hunger for learning brings tremendous value to our team.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Must Read

ExtraTorrent Proxy Sites To Unblock ExtraTorrent (Latest Torrent Sites)

ExtraTorrents is one of the first sites a user visits to download torrent links. Lately, many users have faced difficulties while accessing...

Stardew valley vs Minecraft | A detailed comparison between the two games

Today it is time for the most extreme Game comparison battle as we have two of the best video games in their...

Top 5 Productivity Tools for Remote Work

Permitting your individuals to work remotely can truly assume a major function in rousing and improving manager representative uniformity. Focusing on your...

1337X Proxy Sites List (Sites Like 1337x| Unblock New 1337X.to Site)

1337X is one of the biggest torrent search engines of all time but due to the large number of users downloading content...

Top 10 ebook torrent sites & audiobook torrenting in 2020

Books are timeless. As the famous author, Cicero once said, “A room without books is like a body without a soul.” And...

Popular

ThopTV – Download & install app Apk on Android, iPhone, iPad, iOS, MAC, PC, Firestick, FireTV

About ThopTV movies ThopTV has been around for many years, initially, a user could download the app for an Android Device directly through play store....

9 best ThopTV alternatives for free streaming and Live TV

Streaming apps like Netflix, Amazon Prime, Hulu etc have all become a household name, thus proving that the Internet is the new...

Mobdro – Download & install app Apk on Android, iPhone, iPad, iOS, MAC, PC, Firestick & FireTV 

About Mobdro Mobdro App is one of the latest introduction into the free movie streaming app market. Mobdro is rapidly dethroning some of the big...

Cyberflix TV 3.3.1 – Download Cyberflix App Apk on Android, iPhone, iPad, iOS, MAC, PC & Firestick

About CyberFlix TV CyberFlix TV is an online streaming app on which you can watch free movies and TV Shows. The app has been shut...

Kissanime|Download Kissanime App Apk on Android, iPhone, iPad, iOS, MAC, PC, Firestick, Roku

What is kissanime Kissanime is a free anime streaming website if you ask any anime lover about the best website to watch the latest anime...