Lawmakers in Arizona to encourage people to use bitcoin tax

Lawmakers in Arizona to encourage people to use bitcoin tax


A new bill submitted to the Arizona Senate will allow people to pay their taxes, debt or other encryption currency bitcoin.

According to public records, by Senator Warren Peterson and bill co sponsored by three other members on January 9th submitted for consideration. Since then, the Commission has been submitted to the Arizona Senate rules committee for further deliberation.

According to the text, this measure will allow the use of “equivalence system” with bitcoin or other encryption currency payment the government owed taxes “and any interest and penalties”.

The bill continues:

“The Department of income after the receipt of payment within 24 hours of the encrypted currency into dollars, and the dollar amount of taxpayer account loans to taxpayers.”

Whether this measure can make progress in Arizona’s legislature remains to be seen. In 2016, New Hampshire has made similar efforts, but some lawmakers expressed concerns about bitcoin price volatility, which eventually led to the abortion bill.

On the other hand, Arizona lawmakers have begun with the past related bill approved. Last spring the legislature to finalize a bill, the bill blockchain signature and intelligent contract is valid under state law. Last March, President DougDucey signed the bill, like the monetary policy reported.

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