What is OhioCrypto.com?
Under the leadership of Ohio Treasurer Josh Mandel, taxpayers are able to pay their state business taxes with cryptocurrency for the first time anywhere in America. Ohio has become the first state in the United States, and one of the first governments in the world, to accept cryptocurrency. From mom and pop coffee shops to Fortune 100 companies, businesses now have the ability to pay their taxes with OhioCrypto.com.
Why did the Treasurer’s office create OhioCrypto.com?
Treasurer Mandel believes in leveraging cutting-edge technology to provide Ohioans more options and ease while interfacing with state government. The Treasurer’s office is also working to help make Ohio a national leader in blockchain technology.Treasurer Mandel has a proven record of leveraging technology to change how citizens interact with government. In 2014, Treasurer Mandel launched OhioCheckbook.com which set a new national standard for government transparency and, for the first time in Ohio history, put all state spending information on the internet. OhioCheckbook.com has earned Ohio the #1 ranking in the country for government transparency as evaluated by the U.S. Public Interest Research Group.
Who is eligible to pay taxes in cryptocurrency via OhioCrypto.com?
Businesses operating in Ohio.
Does a business need to be headquartered in Ohio to pay their taxes using cryptocurrency?
No. If a business operates in the State of Ohio and has a tax bill, then they can use OhioCrypto.com to pay their taxes.
How does OhioCrypto.com work?
Businesses can pay their taxes with cryptocurrency in three easy steps:
1. Tell us who you are: Not registered to pay taxes through the Treasurer’s office? No problem. Just register online at OhioCrypto.com.
2. Enter tax payment information: Enter business tax payment amount and select the tax period date.
3. Pay with cryptocurrency: Use your cryptocurrency wallet to pay the invoice with Bitcoin. All payments are processed by the Ohio Treasurer’s office third party cryptocurrency payment processor, BitPay.
Why use OhioCrypto.com?
The Ohio Treasurer’s office continues to be an innovative leader by leveraging technology to offer cutting-edge tools and services to Ohioans. OhioCrypto.com is the latest tax payment option for Ohio taxpayers. Any business operating in Ohio may choose to pay their business taxes in cryptocurrency. Benefits include:
· Quick and easy – Businesses can pay their taxes in three quick steps using the cryptocurrency tax payment portal.
· Real-time tracking – Payments on the blockchain can be tracked on an instantaneous basis.
· Secure payments – Cryptocurrencies cannot be transferred to third parties without user initiation.
· Low fees – A minimal fee is charged to confirm transactions on the blockchain network.
· Transparency – Anyone can view all transactions on the blockchain network.
· Mobile options – Easily make tax payments on your mobile phone or tablet.
What type of taxes can be paid through OhioCrypto.com?
There are 23 taxes eligible for payment on OhioCrypto.com.
They are:
· 911 Wireless
· Cigarette / Other Tobacco Products
· Commercial Activity (CAT)
· Consumer’s Use
· Direct Pay Permit
· Financial Institution (FIT)
· Interest on Lawyers Trust Accounts (IOLTA)
· International Fuel Tax Agreement (IFTA
)· Kilowatt Hour
· Motor Vehicle Fuel (MVFT)
· Municipal Net Profits
· Municipal Tax Electric Light & Telephone
· Natural Gas Distribution (Mcf)
· Non-Resident Motor Vehicle Sales Tax
· Pass-Thru Entity Tax (PTE)
· Petroleum Activity (PAT)
· Premium Insurance Tax
· Public Utilities Tax
· Sales Tax
· Seller’s Use Tax
· Severance Tax
· Streamlined Sales Tax (SST)
· Withholding Tax
What cryptocurrencies can be used to make a tax payment via OhioCrypto.com?
Taxpayers can currently pay their taxes with OhioCrypto.com in Bitcoin – the Treasurer’s office looks forward to adding more cryptocurrencies in the future.
Does the Treasurer’s office hold, mine or invest in cryptocurrency?
No. At no point will the Treasurer’s office hold cryptocurrency. Payments made on OhioCrypto.com, through our third party cryptocurrency payment processor partner BitPay, are immediately converted to USD before being deposited into a state account.
Cryptocurrencies have been known to be extremely volatile. How are business taxpayers and the state protected against market swings?
BitPay sets the exchange rate for a 15 minute allotted time window for each transaction once a business taxpayer begins to make their payment at OhioCrypto.com. BitPay assumes the risk of any market fluctuations during the allotted time window.
What other payment methods does the Treasurer’s office accept?
Payments methods include, Cryptocurrency via OhioCrypto.com, ACH credit, ACH debit, check, wire transfer and money order. Taxpayers can pay online with eCheck or credit card on the Ohio Business Gateway website as well.
What is the limit per transaction using cryptocurrency?
There is no transaction limit on OhioCrypto.com.
Does OhioCrypto.com work on mobile devices?
Yes. OhioCrypto.com is mobile device compatible.
OhioCrypto.com is displaying that it is unable to find my business and that I must register with the Treasurer’s office to pay taxes through OhioCrypto.com. What does this mean?
For security purposes, in order for a business to pay taxes via OhioCrypto.com, it must have a tax profile on file with the Treasurer’s office so that we know who you are and what taxes you are registered to pay. Click the Register button to continue.
How long does it take for a business registration to process?
1 to 3 business days. The business will receive a confirmation email notifying it of successful registration. For inquiries on status, contactOhioCrypto@tos.ohio.gov or call 614-466-8284.
Can I register to pay more than one tax type?
Yes. You can register to pay multiple tax types associated with your business entity.
OhioCrypto.com asks for my Ohio Tax Account number. What is that?
This is a 9-digit number assigned to you by the Ohio Department of Taxation that should be listed on your state tax documentation. It may also be referred to as an Ohio ID Number, Account Number or Vendor’s License Number. With questions about this number, call the Treasurer’s office at 614-466-8284 during normal business hours, or email OhioCrypto@tos.ohio.gov.
I have an eight digit number that matches the above description. How do I determine my ninth digit?
Refer to the notice you received or your tax return. You may need to include the first digit of your Tax Identification Number.If you have Commercial Activity Tax or Cigarette Stamp Tax distributor account numbers, include a zero at the end of your account number. For Kilowatt Hour or Natural Gas Distribution (Mcf) Taxes, the ninth digit is assigned by the Department of Taxation.
Why is OhioCrypto.com asking me for an email address?
You must enter an email address to receive email notifications on the status of your payment.
Can I pay more than one tax type in a single payment transaction via OhioCrypto.com?
Yes. You will see all tax types you are eligible to pay as a result of the Ohio Tax Account Number you entered previously within the OhioCrypto.com payment portal.
OhioCrypto.com is asking for a tax period end date. What is that?
For each tax type you wish to pay, you must select a tax period end date by clicking the calendar icon to the right of the tax type description. The tax period end date indicates the period of time the payment is intended for. The payment will post to the period provided.
I entered my Ohio Tax Account Number but the incorrect business name and/or address appeared. What do I do?
Please email OhioCrypto@tos.ohio.gov or call 614-466-8284.
I need to add, subtract or modify the tax types I am eligible to pay via OhioCrypto.com. What do I do?
Please email OhioCrypto@tos.ohio.gov or call 614-466-8284.
What is the cost per transaction on OhioCrypto.com? Who pays this?
The business taxpayer will pay a minimal transaction fee, network fee and miner fee. The miner fee will be displayed in the taxpayer’s wallet. There is an initial three month introductory period where the transaction fee will be 0%. After the introductory period, the transaction fee will be 1%. In comparison, the Ohio Business Gateway through its credit card service provider, charges a service fee of 2.5% on the amount of the transaction. There are no fees for ACH Credit and Debit through the Treasurer’s office.
What if I do not submit payment within the 15 minute window on the Review & Submit page?
If you do not submit your payment within 15 minutes, you then must restart your transaction – which will include an updated exchange rate.
What comprises the Total Tax Payment amount?
The “Total Tax Payment” equals the sum of the tax payment you entered for each tax type on the previous screen. To view additional details, click the (+) sign to expand the line item description.
What comprises the Fees amount?
The “Fees” equal the sum of the “Processing Fee” and the “Network Fee”, each a nonrefundable fee assessed by our third-party cryptocurrency payment processor. The “Processing Fee” is a pre-defined percentage of the total transaction amount. The “Network Fee” is the cost incurred for the transaction to be validated on the blockchain network. The “Network Fee” does not include the “Miner Fee”, which will be displayed on your wallet. We have no insight or control over the “Miner Fee”, therefore this fee is not displayed on OhioCrypto.com.
What comprises the Total Payment amount?
The “Total Tax Payment” and “Fees” are summed to calculate the “Total Payment”.
What wallets are compatible with OhioCrypto.com?
You can use any of the popular Payment Protocol-compatible wallets below to pay a BitPay invoice. If you don't have one of these wallets yet, simply create a wallet (please use the current release version) and send some coin to it.
· BitPay Wallet
· Copay Wallet
· BTC.com Wallet
· Mycelium Wallet
· Edge Wallet (Formerly Airbitz)
· Electrum Wallet
· Bitcoin Core Wallet
· Bitcoin.com Wallet
· BRD Wallet (breadwallet)
· Bitcoin Cash (BCH) Wallets
How do I pay the invoice after I click the Submit Payment button?
There are multiple ways to make a payment from compatible wallet.
1. Scan the QR Code: Scan the QR code to open the payment in your mobile wallet. Your wallet will lock in with the correct receiving bitcoin address and sending amount. Then make the payment.
2. Send the Payment Manually: Copy the payment URL (Beginning with bitcoin:?r=https://) from the invoice and paste it into your wallet's Send screen. Check your payment details, then send the payment.
3. Open the Payment In Your Wallet: If your wallet is on the device you're using to view the invoice, you can open the payment in your wallet by tapping Open in wallet. Confirm everything is correct, and you can send the payment from your wallet.
You'll see the payment reflected on the invoice instantly when you hit "Send" in your wallet. Remember to send your payment during the 15-minute payment window. BitPay only guarantees the fixed price for this time period.
I successfully submitted a tax payment. What happens next?
You will receive an email notification once your transaction is validated on the cryptocurrency network. You will then receive another email notification when your payment is applied to your state tax obligation.
I successfully submitted a tax payment. How long does it take for the payment to be applied to my account?
A payment made through OhioCrypto.com will be applied to the business taxpayer’s account in 3 to 5 business days.
Will I be subjected to penalties or interest if I'm late paying my taxes via OhioCrypto.com?
Yes, you may be subject to penalties or interest. This can verified by calling the Treasurer’s office at 614-466-8284 during normal business hours, or emailing OhioCrypto@tos.ohio.gov.
Do the tax due dates change for OhioCrypto.com payments?
No. You must comply with the same established due dates that are listed on your tax returns as required by the Ohio Department of Taxation.
Where do I get new tax forms or why haven't I received any yet?
Call the Treasurer’s office at 614-466-8284 during normal business hours, or email OhioCrypto@tos.ohio.gov for more information.
How have Ohio businesses traditionally paid their taxes?
Depending on the tax type, tax amount and preferred payment method, businesses doing business in the State of Ohio can pay their taxes either through the Ohio Treasurer’s office (IVR – Interactive Voice Response, OhioCrypto.com, EFT payment portal, wire transfer, mail, fax), the Ohio Business Gateway (online) and the Ohio Department of Taxation (phone, online, mail).
What is the Ohio Business Gateway?
The Ohio Business Gateway is a state sponsored website created to assist businesses in performing numerous regulatory functions with various state agencies, including electronic filing of tax returns and related payments for many of the Ohio business taxes. The Ohio Business Gateway is not run by the Ohio Treasurer’s office.
What is the ACH credit option?
Businesses authorize their bank to send their tax payment to the State of Ohio. The Treasurer’s office provides businesses with the banking information when they register to pay via EFT.
What is the ACH debit option?
Businesses authorize the State of Ohio to debit their tax payment from their bank account. This transaction is performed by a touch-tone phone call. The ACH debit method is not available through the Ohio Treasurer's office for Streamlined Sales Tax. The debit method is available for Streamlined Sales Tax at the Ohio Business Gateway website.
Can individual taxpayers pay personal taxes, such as income taxes, in cryptocurrency?
No. Currently, only businesses can pay state taxes in cryptocurrency.
What are the tax period ending dates for Sales or Use Tax payments?
Call the Treasurer’s office at 614-466-8284 during normal business hours, or email OhioCrypto@tos.ohio.gov for more information.
How does a business obtain a refund if they overpay on OhioCrypto.com?
Call the Treasurer’s office at 614-466-8284 during normal business hours, or email OhioCrypto@tos.ohio.gov for more information.
How is a refund processed if a business pays in cryptocurrency?
At this time, the Treasurer’s office does not permit refunds in cryptocurrency. Please contact the Ohio Department of Taxation to request a refund.
What happens if a business taxpayer does not pay the exact amount on the BitPay invoice from OhioCrypto.com?
If a business taxpayer submits an underpayment or overpayment of an invoice from OhioCrypto.com, BitPay will not accept the payment and the business taxpayer must restart the transaction.
What happens if a business taxpayer does not pay their full tax obligation?
A business taxpayer may pay as much, or as little, of their tax obligation as they wish using OhioCrypto.com. Contact the Treasurer’s office at 614-466-8284 during normal business hours, or email OhioCrypto@tos.ohio.gov for more information.
What are the Terms of Service for OhioCrypto.com?
Click here to view the Terms of Service.
I have a question or need assistance. Can I talk to someone?
Yes. Please call the Treasurer’s office at 614-466-8284 during normal business hours, or email OhioCrypto@tos.ohio.gov.
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