Ohio No Longer Accepting Withholding Payments in Cryptocurrency
The Ohio Treasurer of State (TOS) has announced that the state website that had been set up last year to accept tax payments, including withholding payments, using cryptocurrency has been shut down indefinitely. The TOS asked the state Attorney General to issue a formal opinion on whether the program was set up legally under state law [TOS,News Release, 10-2-19].
Last year, Ohio became the first state to allow withholding payments in cryptocurrency. The TOS set up a new website to accept cryptocurrency payments (Bitcoin only). The website is no longer operational and cryptocurrency is not accepted for tax payments. More information is available on the TOS website.
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Lia Coniglio, Esq., is Managing Editor of PayState Update and Manager of State Payroll Information Resources for the APA