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Monday, 26 February 2018

Georgia Citizens are you ready to pay your tax in Bitcoin?

The state of Georgia may soon follow in btc tax payment

The State of Georgia May Allow Residents to Pay Taxes in Bitcoin soon. Citizens from the state of Georgia may soon be able to pay their taxes in bitcoin as two senators have introduced a bill that allows digital currency payments for tax obligations and licensure fees.

These two senators are Joshua McKoon and Michael Williams. Both from the state of Georgia.  The bill was submitted on February 21, and the goals are similar to recent blockchain-centric bills filed in the state of Arizona — GA SB464 would allow residents from Georgia to pay their tax obligations and licensure fees in bitcoin and other digital currencies.

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“The commissioner shall accept as valid payment for taxes and license fees any cryptocurrency, including but not limited to bitcoin, that uses an electronic peer-to-peer system,” the text from GA SB464 reads.

Georgia is following the State Arizona’s lead likely due to the region having a large digital currency community. Georgia is home to a variety cryptocurrency-based companies such as Bitpay, Bitfury , and over 100 BTMs (bitcoin teller machines).

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