New Hampshire House rejects Bitcoin tax bill

A proposed bill that would have required New Hampshire residents to pay taxes if they used bitcoin has been defeated.

On January 20, the New Hampshire House of Representatives rejected the bill with 264 votes against and 74 in favor.

The bill was introduced by state Representative Eric Schleien in January last year with the aim of taxing New Hampshire residents who use Bitcoin.

If the bill passes, the New Hampshire state treasurer would then have to select a bitcoin payment company to process bitcoin payments and prepare an implementation plan for the state to accept bitcoin as payment for taxes and fees.

However, the bill faced opposition during its first debate, with some representatives in the state legislature arguing that the state would be exposed to currency risks due to the volatility of Bitcoin prices.

Last fall, the subcommittee in charge of the bill recommended that it be rated "unfit legislation" (legal jargon meaning the proposal should be rejected).

When CoinDesk asked Schleien for his thoughts on the matter, Schleien told CoinDesk that he would work with the representatives who voted in favor to push for the bill to pass in the future, and that he intends to submit similar bills nearly two years from now.

Schleien said:

The proposal received seventy-four votes in favor, which is a victory, but more education, more advocacy, and more action are needed.

Original article: http://www.coindesk.com/new-hampshire-legislators-vote-down-bitcoin-tax-bill/
By Stan Higgins
Translator: printemps
Editor: printemps
Source (translation): Babbitt Information (http://www.8btc.com/kill-bitcoin-tax-bill)