2018
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
Ohio
|
|
|
Michigan
|
|
|
Alaska
|
|
|
Texas
|
Detailed explanation-1: -But Colorado has made the move to become the first state to accept crypto payments for state taxes. According to the Denver Gazette, Colorado Governor Jared Polis confirmed this week that the state would accept cryptocurrency payments for all state tax bills.
Detailed explanation-2: -Crypto Currency Now Accepted For All State Tax Payments.
Detailed explanation-3: -Cryptocurrency is taxable if you sell it for a profit, or earn it as income. You report your transactions in U.S. dollars, which generally means converting the value of your cryptocurrency to dollars when you buy, sell, mine, earn or use it.
Detailed explanation-4: -30% tax rate will be levied on any profits made from the transfer of virtual assets. The 30% crypto tax rate will be the same irrespective of the nature of income i.e. it does not matter if it is an investment income or business income and is irrespective of the holding period.