Ron DeSantis Says Florida Will Accept BTC For State Taxes

Florida governor Ron DeSantis says Florida will accept Bitcoin for state taxes and said he has directed state agencies to figure out how to allow businesses to make tax payments in crypto so let’s read more in today’s latest Bitcoin news.

While the Miami governemnt was recruiting crypto companies, the state was much slower. Colorado will also start accepting crypto tax payments by the end of the year. Florida governor Ron DeSantis says Florida will accept BTC for state taxes and he is doing some early work to reach the BTC community in the state. During the signing ceremony on Tuesday for the bill to mandate high school financial literacy classes, DeSantis said:

 “I’ve told the state agencies to figure out ways where if a business wants to pay tax in cryptocurrency to Florida, we should be willing to accept that. We will accept Bitcoin, we’re working on doing that, for payments in the state of Florida.”

Florida’s biggest city Miami was active on the crypto front and under the leadership of Mayor Francis Suarez, Miami has courted crypto companies to South Florida and Blokchain.com. FTX has planted a huge flag there and last year it secured naming rights to the Miami Heat arena. Suarez was also taking to take some pay in BTC and the city is studying the possibility of paying the state workers in the cryptocurrency.

Before that, the Seminole County Tax Office which covers the Orlando area and started accepting crypto payments via BitPay in 2018 but the deal turned sour after the country tax collector who caught up in the Justice Department probe into sex trafficking involving Rep Matt Gaetz who pleaded guilty to use county funds and start his own blockchain company. The state governemnt has been alogn for the ride and ceded potential territory to states like Colorado and Wyoming which boasts a proactive legislature and a pro-crypto governor. Wyoming also passed plenty of blockchain-friendly laws in 2019 which are now starting to bear fruit. Af ew crypto custodial firms have secured the state banking charters.

Colorado governor Jared Polis said he didn’t want to lose the rivalry with the state’s neighbor to the north and even helped to pass a provision allowing the people of Colorado to pay taxes in crypto. He said the plan is to expand that to other fees and licenses but it will not hold any crypto assets in receives rather than converting them to dollars. With plenty of new crypto companies coming to the state because of Suarez’s efforts, it makes sense for Florida to do the same.
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