Colorado is accepting crypto for tax payments — it could be a mess or a shining example By Cointelegraph
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Colorado is accepting crypto for tax payments — it could be a mess or a shining exampleColorado is accepting crypto as payment for any taxes owed to the state as of Sept. 1. It was the result of a promise made earlier in the year by Colorado Governor Jared Polis, who has proven his commitment to establishing the state as pro-cryptocurrency.
Colorado isn’t the only U.S. state trying to incentivize cryptocurrency investment within its borders, as legislatures in Arizona, Wyoming and Utah have all previously introduced bills to accept tax payments in the form of digital currencies in varying degrees.
Miles Brooks is a certified public accountant (CPA) and the director of tax strategy at CoinLedger, a crypto-tax software provider.
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Colorado is accepting crypto for tax payments — it could be a mess or a shining exampleColorado is accepting crypto as payment for any taxes owed to the state as of Sept. 1. It was the result of a promise made earlier in the year by Colorado Governor Jared Polis, who has proven his commitment to establishing the state as pro-cryptocurrency.
Colorado isn’t the only U.S. state trying to incentivize cryptocurrency investment within its borders, as legislatures in Arizona, Wyoming and Utah have all previously introduced bills to accept tax payments in the form of digital currencies in varying degrees.
Miles Brooks is a certified public accountant (CPA) and the director of tax strategy at CoinLedger, a crypto-tax software provider.
Continue Reading on Coin Telegraph
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