Pay Taxes With Bitcoin? Ohio Senator Proposes Bill For Crypto Tax Payments, But There’s A Catch

Ohio state senator Niraj Antani has introduced a bill that would enable residents and businesses to pay their state and local taxes using cryptocurrencies like Bitcoin (CRYPTO: BTC).

What Happened: While the proposed bill aims to position Ohio as a pioneer in crypto adoption, it faces a steep climb toward becoming law.

The legislation would require the state and “all local political subdivisions” to accept cryptocurrencies for tax payments. Additionally, it would permit state universities and pension funds to invest in digital assets.

Despite its ambitious goals, the bill’s chances of success are doubtful. Legislative proposals often serve to express political intentions, acknowledge support from certain groups, or signal policy direction rather than to advance into law.

“Even in the most serious legislature in the country on Capitol Hill, less than 5% of bills ever become law,” experts often note, highlighting the difficulties faced by even the most well-thought-out proposals.

Senator Antani’s bill …

Full story available on Benzinga.com

  • bitcoinBitcoin (BTC) $ 100,857.00
  • dogecoinDogecoin (DOGE) $ 0.385957
  • shiba-inuShiba Inu (SHIB) $ 0.000024
  • pepePepe (PEPE) $ 0.000020
  • litecoinLitecoin (LTC) $ 111.37
  • bellscoinBellscoin (BELLS) $ 0.584481
  • luckycoinLuckycoin (LKY) $ 0.771885
  • bitcoinBitcoin (BTC) $ 100,857.00
  • dogecoinDogecoin (DOGE) $ 0.385957
  • shiba-inuShiba Inu (SHIB) $ 0.000024
  • pepePepe (PEPE) $ 0.000020
  • litecoinLitecoin (LTC) $ 111.37
  • bellscoinBellscoin (BELLS) $ 0.584481
  • luckycoinLuckycoin (LKY) $ 0.771885