Colorado now accepts crypto payments for state taxes

Quick Take

  • The U.S. state of Colorado now accepts crypto tax payments via PayPal.
  • The announcement came via Governor Jared Polis, who previously signaled a plan to make crypto a tax payment option. 

Residents of the U.S. state of Colorado can now pay their taxes in the form of cryptocurrency.

According to Colorado's Department of Revenue, payments can be made via PayPal, though at this time only personal accounts may be used. PayPal supports bitcoin, ether, bitcoin cash and litecoin. 

To make such a payment, a fee of $1.00 as well as 1.83% of the total amount will be charged, per the DOR site.


Keep up with the latest news, trends, charts and views on crypto and DeFi with a new biweekly newsletter from The Block's Frank Chaparro

By signing-up you agree to our Terms of Service and Privacy Policy
By signing-up you agree to our Terms of Service and Privacy Policy

"As a state, we're on the forefront of digital innovation, whether it's applying blockchain and shared-ledger technology as a new model for funding, or whether it's simply being consumer-friendly and making sure that we allow for the kind of innovation that will disrupt legacy business practices and government practices to make them more efficient," Polis said during an event this week, according to the Denver Business Journal

Polis, a long-time crypto advocate, had announced his intention to push for crypto tax payments earlier this year. Polis was one of the co-founders of the Congressional Blockchain Caucus in 2016. He has served as governor of Colorado since January 2019.

© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.