0 sats \ 0 replies \ @cryptocoin 14 Feb 2023 \ on: No Tax On Crypto Purchases — Texas Goes Big On Digital Assets bitcoin
Payments made in cryptocurrency at the point of sale would receive a two-year retail sales tax holiday.
With the state sales tax being 6.25%, that means those paying in bitcoin are buying at a 5.9% discount versus the price those who pay with cash or some other payment method.
That would definitely drive adoption of bitcoin.
It won't happen though, as there will be pressure to eliminate the sales tax entirely if only those not into bitcoin and other cryptocurrencies/cryptoassets are having to pay them.
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