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Committee hears bill allowing taxpayers to pay state income tax with cryptocurrency; DOR cautions on implementation
Summary
Representative Rannon Gregg told the committee House Bill 453 would let taxpayers direct third-party vendors to convert cryptocurrency proceeds to U.S. dollars for state income-tax payments; proponents argued modernization and taxpayer choice while Department of Revenue witnesses identified administrative and tax-reporting ambiguities.
Representative Rannon Gregg opened House Bill 453 as a measure to modernize state tax payment options by allowing taxpayers to use cryptocurrency. Gregg said third-party vendors would convert crypto to U.S. dollars before remittance, ensuring the state receives the same dollar revenue while offering taxpayers choice. "Whether someone chooses to use cryptocurrency or not, our state should not stand in the way of those who do," Gregg said.
Proponents described both the policy rationale and practical mechanics. Tanner Avery (policy director, Frontier Institute, testifying personally) outlined…
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