New Arizona tax payment bill removes cryptocurrency content

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Runaway Commentary: Arizona’s work on a cryptocurrency tax payment bill that began earlier this year is nearing completion. But the bill, which was eventually approved, did not allow the local tax office to accept people using cryptocurrencies to pay taxes. This result is clearly contrary to the original intent of this legislative effort, and seems to indicate that the state has a long way to go in furthering cryptocurrency acceptance.

Author: Nikhilesh De Translator: Ina

Arizona’s longstanding cryptocurrency tax payment bill has been further weakened to the point of not even mentioning the technology at all.

While the first three previous versions of the bill all mentioned cryptocurrencies as a possible method of payment, its final version, "Senate Bill 1091," did not mention cryptocurrencies in any way, according to public filings. The version of the bill passed by the state's House and Senate does say that local tax authorities "may develop, accept and use a payment system that enables instant remittance and tax collection."

However, it is unclear whether the technology involves cryptocurrencies or the traditional banking system.

The bill was originally designed to enable Arizona’s tax department to accept people paying taxes in cryptocurrencies such as bitcoin. According to previous reports, the bill was introduced in January and was quickly approved by several committees before being sent to the House of Representatives. House committees likewise approved passage of the bill, but work has stalled since early March.

Congressman Jeff Weninger, one of the bill’s sponsors, later told CoinDesk that the bill was being revised in a more neutral direction. He explained that while the original version of the bill specifically mentioned bitcoin, this new version should not specify which cryptocurrencies are acceptable for taxation.

The bill was amended, approved by the House Rules Committee and sent to the Ways and Means Committee.

However, the House passed a new version in late April. Instead of allowing the state’s tax office to accept cryptocurrency for taxation, the bill directs the department to study “whether taxpayers can use payment gateways to pay their personal income tax.” Such gateways include cryptocurrencies such as Bitcoin and Litecoin.

Several proponents of the legislative effort, including Jeff Weninger, did not immediately respond to our request for comment. Some members of parliament related to this can not be contacted at all.

This article only represents the author's personal opinion, does not represent the position of the blockchain pencil, does not constitute investment advice, and the content is for reference only.

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