Arizona Moves One Step Closer to Accepting Bitcoin for Taxes

The Arizona Senate has passed a bill that aims to allow residents in the state to pay their taxes with bitcoin and other cryptocurrencies.

As previously reported by CoinDesk, last month a group of lawmakers submitted a bill that, if passed, would enable taxpayers to use bitcoin or other cryptocurrencies in order to pay “tax and any interest and penalties” to the state’s Department of Revenue. The Department, in turn, would have 24 hours to convert those payments to U.S. dollars.

Public records show that the Senate passed the bill on Feb. 8 by a 16-13 margin, with one no-vote. The measure has since been sent to the state’s House of Representatives for further consideration.

While the measure’s success is contingent on both approval in that chamber, as well as any possible reconciliation required if the House and Senate ultimately pass different versions, the successful vote bodes well for its final passage…

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