REFERENCE TITLE: income tax payments; bitcoin




State of Arizona


Fifty-third Legislature

Second Regular Session



SB 1091


Introduced by

Senators Petersen: Farnsworth D; Representatives Grantham, Weninger





Amending section 43-505, Arizona Revised Statutes; relating to income tax payments.





Be it enacted by the Legislature of the State of Arizona:

Section 1.  Section 43-505, Arizona Revised Statutes, is amended to read:

START_STATUTE43-505.  Tax payments made to department; order of crediting

A.  The tax and any interest and penalties shall be paid to the department.  Remittances may be in the form of either:

1.  A check payable to the department during such a time and under such regulations as the director may prescribe.  If a check is not paid by the bank on which it is drawn, the taxpayer tendering the check shall remain is liable for the payment of the tax and all interest and penalties as if he had the check were not tendered the check.

2.  A payment gateway, such as bitcoin or other cryptocurrency, using electronic peer-to-peer systems.  The department shall convert cryptocurrency payments to United States dollars at the prevailing rate within twenty-four hours after receipt and shall credit the taxpayer's account with the converted dollar amount.

B.  The department shall credit payments against a taxpayer's unpaid tax liability before crediting payments against any interest or penalties. END_STATUTE