Bitcoin for tax payments? Arizona could become first state in the U.S. to allow it
CLOSE A motion graphic explains what Bitcoin is and how Bitcoin works.
Arizona could become the first state in the country to accept payments from the volatile Bitcoin digital currency for taxes, thanks to a bill advancing through the Legislature.
Sen. Warren Petersen, R-Gilbert, is sponsoring Senate Bill 1091.
The bill would allow income taxes to be paid in Bitcoin or other cryptocurrency approved by the Arizona Department of Revenue starting in 2020.
The revenue department would be required to convert such payments to U.S. currency at the prevailing rate, crediting the taxpayer's account... read more
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