The US state of Georgia accepts virtual currency for paying taxes and licensing fees

Senator Bill 464 proposes that "the commissioner will accept valid payments for digital tax and license fees, including bitcoin and o...

Senator Bill 464 proposes that "the commissioner will accept valid payments for digital tax and license fees, including bitcoin and other virtual currencies."
The bill stipulates that when a payment is received, the commissioner will convert the digital money to USD for a period of no more than 24 hours.

Under the new law, similar measures were taken in the Arizona Senate earlier this month, allowing taxpayers to pay their income tax liabilities using a payment gateway, such as bitcoin, litecoin , or any digital currency recognized by this set. The Arizona bill also stipulates that crypto will be converted into US dollars within 24 hours.Wyoming has also recently introduced legislation that exempts taxes related to digital money. A major group of Republicans has put forward SF0111, proposing a list of "intangible items," which mentions cashiers and cashier checks that will be exempt from property tax. .While recent information suggests that using virtual currency to pay taxes seems to be more profitable, Robert Wood, a tax law expert, thinks that using virtual currency to pay taxes is more expensive. It is subject to income tax and investment income tax.
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High Tech Brain: The US state of Georgia accepts virtual currency for paying taxes and licensing fees
The US state of Georgia accepts virtual currency for paying taxes and licensing fees
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