You Can Now Pay Taxes in Colorado Using Crypto

Colorado is raising the bar when it comes to crypto-friendliness! Colorado Governor Jared Polis recently confirmed the state would start accepting cryptocurrency as payment for state tax bills.

The idea was first proposed earlier this year, so it didn’t become a reality overnight. However, there is a catch. All crypto payments need to be made through PayPal, and you will end up paying a 1.83% + $1 fee everytime you pay your taxes using crypto.

Still, Colorado is certainly one of the most crypto-friendly places to live in the United States. The Colorado Digital Token Act passed in 2019, making certain cryptos exempt from securities regulations. That was a huge win for the state and for crypto holders.

All state tax bills in Colorado will have a cryptocurrency payment option, whether that’s for business or individual incomes.

Governor Jared Polis made the announcement at Denver Startup Week on Monday, saying “we’re just showing again, from a customer service perspective, how Colorado is tech-forward in meeting the ever-changing needs of businesses and residents”.

Source: Denver Gazette

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