Arizona’s Crypto Tax Payments Bill Clears Hurdle, Report SaysApril 24, 2018 10:45 pm
An Arizona House of Representatives committee with a major role in deciding the fate of a bill that would clear the way for the state to accept cryptocurrencies as payment for taxes has approved the measure, CoinDesk reported Tuesday.
The House Rules Committee approved the measure Monday, ending an apparent freeze on the bill after the House Ways and Means Committee approved the measure early last month, the report said.
The measure now heads to the full Arizona House of Representatives for a final vote, the report said.
In its current form, the report said,the bill would empower the Arizona Department of Revenue to collect taxes via cryptocurrency – and make the state the first in the nation to officially accept a cryptocurrency as payment.
While an older version of the bill named bitcoin, the new version is more “agnostic” toward which coins might be accepted and gives more leeway to tax officials, according to Representative Jeff Weninger, one of the proposed law’s sponsors.
Weninger told CoinDesk earlier this month the bill’s sponsors were working to make it more easily understood by other members, but hoped to pass it within weeks.
– WN.com, Jack Durschlag