Does the Treasurer’s office hold, mine or invest in cryptocurrency?
No. At no point does the Treasurer’s office hold cryptocurrency. Payments made on OhioCrypto.com flow through the third-party payment processor, BitPay, and are converted to US dollars before being deposited into a state account.
How does OhioCrypto.com work?
Businesses can pay their taxes with cryptocurrency by following these steps:
1. Tell us who you are: The business 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. If you don’t already have a tax profile, click the Register button. The business will receive a confirmation email notifying it of successful registration within 1 to 3 business days. For inquiries on status, contact OhioCrypto@tos.ohio.gov or call 614-466-8284.
2. Accept the Terms of Service: Click here to view the Terms of Service.
3. Enter tax payment information: For each tax type you wish to pay, you must enter the Ohio Tax Account number (9 digit number assigned by the Ohio Department of Taxation), the tax payment amount and the tax period end date (click the calendar icon). The tax period end date indicates the period of time the payment is intended for. The payment will post to the period provided.
4. Pay with cryptocurrency: Use your cryptocurrency wallet to pay the invoice with Bitcoin. All payments are processed by the third-party payment processor, BitPay.
What type of taxes can be paid through OhioCrypto.com?
There are 23 taxes eligible for payment on OhioCrypto.com. They are:
- Employer Withholding Tax
- Sales Tax
- Sales & Use Tax Direct Pay Permit
- Streamlined Sales Tax (SST)
- Seller’s Use
- Consumer’s Use
- Non-Resident Motor Vehicle Sales Tax
- Wireless 9-1-1
- Cigarette / Other Tobacco Products
- Commercial Activity (CAT)
- Financial Institution (FIT)
- Petroleum Activity (PAT)
- Premium Insurance Tax
- Pass-Thru Entity Tax (PTE)
- Municipal Net Profits
- Interest on Lawyers Trust Accounts (IOLTA)
- International Fuel Tax Agreement (IFTA)
- Motor Vehicle Fuel
- Severance Tax
- Kilowatt Hour
- Municipal Tax Electric Light & Telephone
- Natural Gas Distribution (Mcf)
- Public Utilities Tax
Can individual taxpayers pay personal taxes, such as income taxes, in cryptocurrency?
No. Currently, only businesses can pay state taxes in cryptocurrency.
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 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.
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.
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.
Cryptocurrencies have been known to be extremely volatile. How are business taxpayers 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. Because BitPay does the conversion and sends US dollars to the state’s account, the state has no exposure to market risk.
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 is the cost per transaction on OhioCrypto.com? Who pays this?
The business taxpayer will pay a 1% transaction fee, a network fee and a miner fee. The miner fee will be displayed in the taxpayer’s wallet.
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 (currently 1%) 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. The Treasurer’s office has 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”.
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.
How do I pay the invoice after I click the Submit Payment button?
You must use one of the compatible wallets, listed below:
- 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
There are multiple ways to make a payment from a 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.
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.
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.
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.
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.
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.
How is a refund processed if a business pays in cryptocurrency?
Please contact the Ohio Department of Taxation to request a refund. Refunds are denominated in US dollars.
Does OhioCrypto.com work on mobile devices?
Yes. OhioCrypto.com is mobile device compatible.
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.