{"id":191698,"date":"2021-05-28T05:00:41","date_gmt":"2021-05-28T04:00:41","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=191698"},"modified":"2021-05-27T20:52:33","modified_gmt":"2021-05-27T19:52:33","slug":"u-s-state-of-colorado-weighs-tax-payments-via-crypto","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/u-s-state-of-colorado-weighs-tax-payments-via-crypto\/","title":{"rendered":"U.S. state of Colorado considers tax payments via crypto"},"content":{"rendered":"

The adoption of crypto in the US got a new push as Colorado Governor Jared Polis is eager to accommodate legislation for state tax payments via cryptocurrencies, as per a report on news outlet <\/span>The Independent<\/span><\/i><\/a>.<\/span><\/p>\n

\u201cI\u2019d be thrilled to be the first state to let you pay your taxes in a variety of cryptos,\u201d said Polis at the Consensus 2021 virtual conference on Tuesday, announcing his next step will be talking to Mark Ferrandino, the Executive Director at Colorado Department of Revenue.<\/span><\/p>\n

Crypto-friendly Governor Polis<\/strong><\/h2>\n

The Federal Election Commission (FEC) ruled in <\/span>2014<\/span><\/a> that political committees and the politicians they support are allowed to accept donations in the form of Bitcoin (<\/span>BTC<\/span><\/a>), with them being considered “in-kind contributions,” like stock or property.<\/span><\/p>\n

Colorado State Governor Jared Polis, the first politician that legally accepted campaign contributions in Bitcoin, is hopeful his state residents will be permitted to pay their taxes with crypto and he wants it to happen soon.\u00a0<\/span><\/p>\n

“I'd love to set that up,” said Polis. He added that \u201cColorado is and will be the center for blockchain innovation in the United States, attracting investments and good jobs and innovators in infrastructure, digital identity, and individual data security in the private and public sector.\u201d<\/span><\/p>\n

Not the first try<\/strong><\/h2>\n

Similar attempts in the adoption of cryptocurrencies tried by other states haven\u2019t gone very far.<\/span><\/p>\n

In <\/span>2018<\/span><\/a>, Ohio managed to cross the barrier, allowing companies to pay taxes through <\/span>OhioCrypto.com<\/span><\/a>, with processor <\/span>BitPay<\/span><\/a> converting payments made in Bitcoin to dollars for the treasurer\u2019s office.\u00a0<\/span><\/p>\n

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Exclusive: Ohio to accept #bitcoin<\/a> for taxes, appears to be a first for a U.S. state. Starting w\/business filers, plans to expand to individuals. via @WSJ<\/a> https:\/\/t.co\/aJPgcVH4iV<\/a> pic.twitter.com\/tvCjAEkvos<\/a><\/p>\n

— Paul Vigna (@paulvigna) November 25, 2018<\/a><\/p><\/blockquote>\n