Tax,
Government,
Banking
Feb. 13, 2018
Arizona may become first state to accept bitcoin payments
If passed, Arizona's Senate Bill 1091 would allow income taxes to be paid in bitcoin and other cryptocurrency that is approved by the Arizona Department of Revenue. Still, that wouldn't be until 2020, which seems like light years away.
Robert W. Wood
Managing Partner
Wood LLP
333 Sacramento St
San Francisco , California 94111-3601
Phone: (415) 834-0113
Fax: (415) 789-4540
Email: wood@WoodLLP.com
Univ of Chicago Law School
Wood is a tax lawyer at Wood LLP, and often advises lawyers and litigants about tax issues.
The IRS is not accepting bitcoin, ripple or ethereum for taxes yet. But it might not be too far off. With Arizona moving to become the first state in the country to accept payments in crypto, other states could follow. If passed, Arizona's Senate Bill 1091 would allow income taxes to be paid in bitcoin and other cryptocurrency that is approved by the Arizona Department of Revenue. Still, that wouldn't be until 2020, which seems like light years away.
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