Ohio is the first state to accepts Bitcoins as tax payments

Ohio is the first state to accepts Bitcoins as tax payments

Ohio became the first US state to allow bitcoin payments for a wide range of corporate taxes.

Since Monday businesses throughout the state are allowed to use the crypto coin to pay for as many as 23 taxes with just 1% fee, which is a smaller charge than the standard 2,5% credit card fee.

For the time being the authorities in Ohio accept only Bitcoins and not any other of the major crypto coins like Ethereum, Ripple, Monero or Dash. Also, the option is limited to corporate taxes and citizens are not allowed to pay personal taxes with the crypto currency.

The over all expectations are that the move will attract new businesses to the state.

Currently the price of the Bitcoin has stabilized about 4000 USD after reaching nearly 20 000 USD in December of 2017.

Subsequently reports suggested that the spike might be a result of a market manipulation.

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