THE DAILY ENCRYPT

September 25, 2022

U.S. State of Colorado Has Started Accepting Tax Payments in Crypto Via Paypal

The U.S. state Colorado now accepts cryptocurrency tax payments via PayPal. Governor Jared Polis made the announcement. Polis previously indicated a plan for crypto to...
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The U.S. state Colorado now accepts cryptocurrency tax payments via PayPal. 

Governor Jared Polis made the announcement. Polis previously indicated a plan for crypto to be a tax payment option. Colorado residents can now pay their taxes using cryptocurrency.

According to Colorado’s Department of Revenue payments can be made through PayPal. However, personal accounts are not allowed. PayPal supports bitcoin, ether and bitcoin cash as well as litecoin.

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Fees apply when using crypto to pay taxes

According to the DOR site, there will be a $1.00 fee and 1.83% surcharge for making such a payment.

Polis stated that the state is at the forefront of digital innovation. This could be using blockchain and shared-ledger technology to fund new models, or simply being more consumer-friendly. Polis spoke this week during an event, according to the Denver Business Journal.

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Polis is a long-standing crypto advocate and had previously announced his intent to push for crypto tax payments. Since January 2019, he has been Colorado’s governor.

Elena Argyros

Elena Argyros

Elena is cryptocurrency writer / journalist based in Europe. She has extensive knowledge in the crypto space and is a solidity programmer by trade. Elena has built an extensive resume working with some of the most ground breaking blockchain firms. Being in Europe, Elena has amassed a large network of professionals in the space and states "The technology behind blockchain is going to impact everyone on earth in a good way, once you get to understand it".
Elena Argyros

Elena Argyros

Elena is cryptocurrency writer / journalist based in Europe. She has extensive knowledge in the crypto space and is a solidity programmer by trade. Elena has built an extensive resume working with some of the most ground breaking blockchain firms. Being in Europe, Elena has amassed a large network of professionals in the space and states "The technology behind blockchain is going to impact everyone on earth in a good way, once you get to understand it".

© 2022 The Daily Encrypt. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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