Coloradans can now pay state tax bills with cryptocurrency – Axios
Gov. Jared Polis (left) at Denver Startup Week’s kickoff event on Sept. 19. Photo: Esteban L. Hernandez/Axios Denver
Gov. Jared Polis made good on a promise earlier this year by announcing Monday that Colorado residents can now pay state taxes with cryptocurrencies.
Driving the news: The Democrat chose the first day of Denver Startup Week to formally announce that residents have the option…….
Gov. Jared Polis (left) at Denver Startup Week’s kickoff event on Sept. 19. Photo: Esteban L. Hernandez/Axios Denver
Gov. Jared Polis made good on a promise earlier this year by announcing Monday that Colorado residents can now pay state taxes with cryptocurrencies.
Driving the news: The Democrat chose the first day of Denver Startup Week to formally announce that residents have the option to pay online.
- Individual income tax, business income tax, sales and use tax, withholding tax, severance tax and excise fuel tax are eligible, according to his office.
- The move is part of Polis’ broader push to encourage the use of blockchain technology in the state.
Yes, but: The announcement’s timing was awkward. The most popular cryptocurrency in the world, Bitcoin, hit a three-year low this past weekend, per Axios Crypto.
- The $18,349 value for Bitcoin over the weekend was well below its 2017 high of $19,783.
- Other cryptocurrencies, including Ethereum, BNB, XRP and Cardano, all posted losses this weekend.
Of note: Polis also accepts cryptocurrency campaign contributions and is fundraising for his reelection campaign by selling non-fungible tokens (NFTs) for $52.80 each.
- As of Monday, 175 have been sold since June.
🌱
Support local journalism by becoming a member.
Learn more
More Denver stories
No stories could be found
Get a free daily digest of the most important news in your backyard with Axios Denver.
🌱
Support local journalism by becoming a member.
Learn more
Source: https://www.axios.com/local/denver/2022/09/20/colorado-state-tax-bills-cryptocurrency