New Hampshire House Subcommittee Approves Bitcoin for Taxes Bill

The U.S. state of New Hampshire has followed up on a proposed bill filed by two of its state representatives – Dennis Acton and Michael Yakubovich in early January 2019. The HB 470 bill aims to allow the state’s residents pay taxes and fees for state agencies with cryptocurrencies.

Sequel to the proposed bill, the New Hampshire House Subcommittee has at this time unanimously approved the state’s cryptocurrency (bitcoin) for taxes bill. The state legislators had been discussing the recently submitted HB 470 bill which proposes that residents of the Free State be allowed to pay specific New Hampshire taxes with bitcoin.

See previous news here:

This approval by the House Subcommittee is a score point and one step closer considering the series of required approvals and amendments to come with regards to the HB 470 bill. The bill will now subsequently be reviewed by the executive branches like the state’s Administration Committee for further voting.

Jaci Grote another representative of New Hampshire is quoted as saying:

If I vote ‘Yes’ on this, I’m saying that not only the state of New Hampshire accepts them (cryptocurrencies), but this is an acceptable form of payment in New Hampshire.

New Hampshire will join Ohio – which is the first state in the U.S. to begin acceptance of tax payments in Bitcoin core (BTC) and Bitcoin Cash (BCH) via its website Indiana is also said to have plans in motion for the amendment of its tax code to allow the state accept cryptocurrencies for tax payments, interests and other costs; a move which if successful will take effect in Indiana by July 1, 2019.

What do you think about paying taxes with Bitcoin? Share your thoughts in the comments.

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