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Author Topic: [2015-03-06] Forbes: Paying Your Taxes In Bitcoin? Bill Would Make It Easy.  (Read 1285 times)
polynesia (OP)
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March 07, 2015, 01:00:08 AM
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Paying Your Taxes In Bitcoin? Bill Would Make It Easy.

http://www.forbes.com/sites/kellyphillipserb/2015/03/06/paying-your-taxes-in-bitcoin-bill-would-make-it-easy/

A bill introduced earlier this year in New Hampshire, HR552, would require the state’s treasurer to “develop an implementation plan for the state to accept bitcoin as payment for taxes and fees.” Under the bill, the plan would have to be in place by 2017.
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March 07, 2015, 06:14:20 AM
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Governments have no reason not to accept bitcoin, despite what the conventional wisdom on the matter seems.

Thankfully they'll trade out their perfect, limited-edition money for more of their own worthless, toilet-paper currency every time, leaving the good stuff in the hands of the people.

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March 08, 2015, 10:36:35 AM
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Knowing how they like to do things I say they'll add a special tax for bills paid in bitcoin and say they now have to spend additional resources to educate clerks, need time to move the money in and out of exchanges and earn something on top for the effort Tongue

I first assumed they would initially use a third party processor, with dollars being deposited in the government's account.
But with statements like this, I am not sure
According to the bill’s fiscal notes, the Treasury department anticipates an increase in state expenditures “because the Department has no familiarity with bitcoin cash operations and therefore cannot determine in advance how much time and effort will be required to become informed and address the areas of accounting, valuation, and management.
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