The Ways and Means Committee of the Arizona House of Representatives passed SB1091, a tax bill that would allow state residents to pay their tax bills with cryptocurrencies, legislative records show March 7.
What would you feel if you get opportunity to pay all types of bills in cryptocurrency? You don’t need to surprise. Some countries are discussing on this matter. Arizona is one of those countries that already passed a bill to receive taxes from state citizens.
The crypto payments received from state residents will be converted into fiat currency US dollars within 24 hours. This is already specified in the bill. Jeff Weninger, a Republican member of the Arizona House of Representatives, looks it as a good opportunity for entrepreneurs to set up their new businesses in Arizona.
Other than Arizona, Georgia and Illinois are also showing their interest in crypto payment methods. Once the state legislature passes this bill, several states in US would allow their citizens to pay taxes and license fees in cryptocurrencies.
Read more news here: https://cointelegraph.com/news/bill-to-allow-to-pay-taxes-in-bitcoin-passes-arizona-house-committee