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RHODE ISLAND BILL PROPOSES $10,000 IN TAX-FREE #BITCOIN SPENDING PER MONTH

Introduced to the RI Senate last month, the bill states that individuals and businesses can spend/sell up to $1k in bitcoin 10 times per month w/o incurring states cap gains taxes.

https://bitcoinmagazine.com/news/rhode-island-bill-would-allow-state-residents-spend-10000-monthly-in-bitcoin-tax-free

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Discussion

Shawn 9mo ago

And then the fine print... in $1,000 increments. This is why we can't have nice things.

It's Moro! 9mo ago

God damnit

It's Moro! 9mo ago

Granted, on chain bitcoin makes it easy to structure a payment as 10 separate ones but still I hate it

Shawn 9mo ago

Doing so is called “structuring,” and is illegal. Good times.

It's Moro! 9mo ago

zeph 9mo ago

Oh hell yes, Ocean State!

Cucucubarsi 9mo ago

This is just state tax right you would still be liable for federal cap gains?