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Kentucky bill to provide tax breaks for local crypto miners Kentucky needs to attract more crypto mining businesses by offering tax breaks, local lawmakers believe. 11867 Total views Lawmakers in Kentucky are looking to impose tax breaks for local cryptocurrency miners. Kentucky lawmakers on Tuesday approved several state tax breaks including House Bill 230, which would remove the sales tax from electricity purchased by local crypto mining operators. According to a report by the Lexington Herald-Leader, Kentucky legislators voted 19 to two for the new measure. The bill’s fiscal note ...
Reading Time: 2 minutes by Anthonia Isichei on March 4, 2021 Regulation Lawmakers in the U.S. state of Kentucky recently approved a bill that would exempt cryptocurrency miners from paying taxes. Crypto Mining Tax Exemption Bill Receives Majority Support According to local news outlet the Lexington Herald-Leader on Tuesday (Mar. 2, 2021), the House Budget committee of the Kentucky General Assembly approved Bill 230, which sought to remove taxes on electricity purchased for commercial cryptocurrency mining activities. The bill saw a vote of 19-to-2, which meant that lawmakers were in f...