The State of New Hampshire to move closer to bitcoin
Paying taxes with bitcoin has become a focus for some U.S. States to implement. As there are a lot of benefits in accepting this type of method of payment according to the State of New Hampshire.
According to the House Subcommittee, there has been a unanimous approval of the Bill 470-FN, which was filed back in January on the 5th 2019.
The New Hampshire house bill was unanimously approved of by the Subcommittee through seeking the acceptance of cryptocurrencies as payment for taxes.
This also includes fees that the state agencies will be requiring. The bill still needs to be approved by the Senate and
The state treasurer of New Hampshire will have to develop a plan for the state to start accepting cryptocurrencies as a means of payment for fees and taxes by the 1st of July 2020.
There have also been more states heading into the same direction as Indiana, where the legislators are willing to work to amend the current the
The first approval went to Ohio
Approving the bill will require that the treasurer of New Hampshire would also need to identify an appropriate third party payment processor at first in order to facilitate the transactions at no cost to the state.
The company Overstock has signed up to pay some of its state business taxes through the use of bitcoin in the Ohio state in an announcement that the company made. The acceptance of new forms of payments is becoming critical in the financial system.
In a discussion prior to the approval of the bill, the representative Jaci Grote, mentioned that they are not just approving cryptocurrencies as a means of paying taxes. But the state will also be officially recognising the cryptocurrency as a form of payment in New Hampshire.
In a recent statement was mentioned that:
” If i vote ‘Yes” on this, i’m saying that not only the state of New Hampshire accepts them (cryptocurrencies), but this is an acceptable form of payment in New Hampshire.”
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