Ohio Employment Law Update – December 2018
Cryptocurrency Tax Payments
In November 2018, Treasurer of Ohio Josh Mandel announced that Ohio businesses may pay their state business taxes with cryptocurrency (Bitcoin only). This is remarkable because Ohio is the first state in the United States to accept cryptocurrency payments. Those eligible to pay taxes in cryptocurrency via the state’s website (OhioCrypto.com) are businesses operating in Ohio. However, a business is not required to be headquartered in Ohio to pay their taxes using cryptocurrency. Rather, if a business operates in the state and has a tax bill, then it may use the website to pay its taxes.
There are 23 taxes eligible for payment on OhioCrypto.com, including consumer use tax, sales tax, seller’s use tax, and withholding tax.