
₿itcoin ₿uckeye 🇺🇸
22.5K posts

₿itcoin ₿uckeye 🇺🇸
@bitcoinbuckeye
₿itcoin, investing, real estate & mortgages. Proud alum of THE Ohio State University‼️ God bless America 🇺🇸 and God bless the troops!


🚨 Illinois just passed one of the most bizarre taxes in America (the most onerous for Bitcoiners). In every state EXCEPT Illinois, there’s no tax for buying, transferring, or storing bitcoin. Obviously. And unless or until you sell, there’s no capital gains tax. Also obvious. But now, and signed into law, you are taxed on the full amount of your bitcoin, every time you move your bitcoin or store it. So from the minute, you decide to move your Bitcoin off an exchange where you bought it, the gross amount is taxed. Do you see what’s happening? This is no different than buying and paying taxes for a meal at a restaurant and then deciding to take it home. But the simple act of taking the food that you already fully purchased and paid for home… now triggers an additional tax that full purchase price of the food. This doesn’t tax any gains on Bitcoin. It can go up or down in value. It taxes you simply for USING Bitcoin. Starting Jan 2027 the 0.2% tax on the full value of Bitcoin begins for every resident of Illinois, every time you buy it, transfer it, or even store it with a custodian.




































