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Committee hears bill allowing cryptocurrency for state tax payments, raises implementation questions
Summary
House Bill 453 would let Montanans pay state income tax in cryptocurrency through third-party processors that convert crypto to dollars; sponsors and proponents emphasized modernization and taxpayer choice while Department of Revenue staff flagged technical questions about capital-gains language, fees and implementation.
Representative Randon Gregg opened the hearing on House Bill 453, saying the bill would let Montanans pay state income taxes using cryptocurrency and send a message that Montana embraces financial innovation. “Cryptocurrency is here to stay,” Representative Randon Gregg said, urging a do-pass recommendation.
Proponents described the proposal as a modernization step and a convenience for residents and businesses that hold assets in digital form. Tanner Avery, testifying as an individual, explained blockchain and use cases for the technology and said third-party processors would convert crypto to U.S. dollars prior to remittance: “This bill allows income taxes to be paid with cryptocurrency by directing…
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