110 sats \ 2 replies \ @nerd2ninja 20 Sep 2022 \ on: Colorado now accepts #Bitcoin and #crypto for tax payments via PayPa bitcoin
Actual source: https://www.colorado.gov/revenueonline/_/#1
This option allows for: Cryptocurrency payments through the PayPal Cryptocurrencies Hub
Service fees: An additional $1.00 plus 1.83% of the payment amount.
Process or restrictions:
Only PayPal Personal accounts can pay using cryptocurrency. PayPal Business accounts cannot pay using cryptocurrency at this time.
You must have the entire value of your invoice in a single cryptocurrency in your PayPal Cryptocurrencies Hub.
Fees such as PayPal purchase fees, when buying cryptocurrency through PayPal, or miner/gas fees, when transferring cryptocurrency from an external wallet to your PayPal Cryptocurrencies Hub, may apply.
Transfers from external wallet to PayPal wallet must be done via PayPal mobile app.
Effective date and processing timeline: Effective on the date initiated. USDs will transfer in 3-5 business days.
#donttrustverify
Great job checking the source.
This is cool because you don't pay cap gains if you're living on bitcoin only and need to pay your taxes.
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Thanks.
Regarding the details... well its a start, at least.
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