[2015-02-04] New Hampshire Bill Backs Bitcoin for State Taxes

[sickpig]

New Hampshire Bill Backs Bitcoin for State Taxes.

A New Hampshire State bill seeks to chip away at the Federal Reserve’s effective monopoly on US currency, and not with gold. Republican Representative Eric Schleien’s HR552, first introduced on January 8, would mandate that the state treasurer “develop an implementation plan for the state to accept bitcoin as payment for taxes and fees.”

http://panampost.com/belen-marty/2015/02/04/new-hampshire-bill-backs-bitcoin-for-state-taxes/

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[CoinMode]

New Hampshire Bill Backs Bitcoin for State Taxes.

A New Hampshire State bill seeks to chip away at the Federal Reserve’s effective monopoly on US currency, and not with gold. Republican Representative Eric Schleien’s HR552, first introduced on January 8, would mandate that the state treasurer “develop an implementation plan for the state to accept bitcoin as payment for taxes and fees.”

http://panampost.com/belen-marty/2015/02/04/new-hampshire-bill-backs-bitcoin-for-state-taxes/

THIS is what we need so, so badly right now. It closes the loop on the entire bitcoin ecosystem.

1. Get paid in bitcoin
2. Buy things with bitcoin
3. Pay bills with bitcoin
4. Pay taxes with bitcoin
5. Restart at the first step

We are so close.

[nwfella]

Fascinating article.  Definitely a step in the right direction I'm thinking.

[Chef Ramsay]

It's members of the Free State Project that are moving there to NH and having an affect on legislators, if not getting elected themselves. I believe there are several FSP state reps elected as libertarian republicans and democrats that are part of the movement behind this bill. If nothing else, it'll spur researching of bitcoin by the committees responsible for passing this on to the larger assembly. It may not pass the first time around but giving the state another way to collect taxes, namely property taxes, is surely an incentive for them. It's not like there's a sales or income tax there thanks to the libertarian strain of the state.