Mark Mason
Well-known member
Arizona Lawmakers Making Crypto Friendly Bills
An Arizona Senate bill that previously focused on state level income tax is being redesigned to focus on point-of-sale cryptocurrency taxes.
The transaction privilege tax (TPT) is a sales tax assessed at transactions throughout Arizona, United States. The new bill would automatically charge and send the “sales tax payment made to the state of Arizona, whether it’s in cash, cryptocurrencies or credit card payment,” said senator Warren Petersen, who crafted the bill. He hopes the bill will pass to make Arizona hailed as a crypto payments innovator. Petersen’s original idea applied to state income tax being paid in crypto, but called this version “much more exciting”.
Senator Petersen recognizes the dangers of over regulating cryptocurrencies since he knows that “New York was booming and then all of a sudden they had massive, burdensome regulations”. He knows that “10 companies fled the state or shut down altogether” after the regulations were implemented and said that “Arizona is not going to do that” and instead “encourage innovation and new ideas and technology”.
Read more: https://www.dashforcenews.com/arizona-lawmakers-making-crypto-friendly-bills/
An Arizona Senate bill that previously focused on state level income tax is being redesigned to focus on point-of-sale cryptocurrency taxes.
The transaction privilege tax (TPT) is a sales tax assessed at transactions throughout Arizona, United States. The new bill would automatically charge and send the “sales tax payment made to the state of Arizona, whether it’s in cash, cryptocurrencies or credit card payment,” said senator Warren Petersen, who crafted the bill. He hopes the bill will pass to make Arizona hailed as a crypto payments innovator. Petersen’s original idea applied to state income tax being paid in crypto, but called this version “much more exciting”.
Senator Petersen recognizes the dangers of over regulating cryptocurrencies since he knows that “New York was booming and then all of a sudden they had massive, burdensome regulations”. He knows that “10 companies fled the state or shut down altogether” after the regulations were implemented and said that “Arizona is not going to do that” and instead “encourage innovation and new ideas and technology”.
Read more: https://www.dashforcenews.com/arizona-lawmakers-making-crypto-friendly-bills/