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Rhode Island Bill Would Allow State Residents Spend $10,000 Monthly In Bitcoin Tax Free

Summary by http://coinprofitnews.com

Bitcoin Magazine Rhode Island Bill Would Allow State Residents Spend $10,000 Monthly In Bitcoin Tax Free Bill S. 0451 , which was introduced to the Rhode Island Senate last month, permits the state’s residents and businesses to make up to 10 payments in bitcoin valued at less than $1,000 per month (...

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thecryptocurrencypost.net

Rhode Island Pushes Pro-Bitcoin Bill for Tax Exemption - The Cryptocurrency Post

TL;DR Rhode Island moves forward with Bill S.0451, which proposes exempting up to 10 monthly Bitcoin transactions under $1,000 from state capital gains tax. The proposal aims to facilitate everyday BTC use for payments and purchases, boosting the local blockchain economy. Although the exemption does not apply to federal taxes, it positions Rhode Island as a crypto-friendly leader in the U.S. Rhode Island has taken a bold step toward mass Bitcoi…

2 days ago

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Crypto Breaking News

Rhode Island Advocates for Tax-Free Spending: Residents Could Use $10,000 Monthly in Bitcoin!

Bitcoin Magazine Rhode Island Bill Would Allow State Residents to Spend $10,000 Monthly in Bitcoin Tax-Free The recently introduced Bill S. 0451 in the Rhode Island Senate offers an exciting opportunity for residents and local enterprises. This bill allows individuals to make Bitcoin transactions totaling up to $10,000 per month, with single transactions capped at under $1,000, without incurring state capital gains taxes. This proposed legislati…

2 days ago

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