Wendy Rogers Usa state Arizona United States regulation Taxes Wendy Rogers Usa state Arizona United States

Arizona lawmakers seek to make crypto a tax-exempt property

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Lawmakers in the Arizona State Senate are considering a bill aimed at having voters decide whether virtual currency is exempt from property taxation.In legislation introduced to the first session of the Arizona State Senate in 2023, Senators Wendy Rogers, Sonny Borrelli, and Justine Wadsack proposed having Arizona residents decide on amending the state’s constitution in regards to property taxes.

Should the measure pass the legislature, voters could choose whether virtual currency — specifically not “a representation of the United States dollar” — be tax exempt in the state in November 2024.

Under Arizona’s constitution, all federal, state, county and municipal property are tax exempt, as are public debts, many household goods, and certain “stocks of raw or finished materials, unassembled parts, works in process or finished products”.

Data from the Arizona Secretary of State suggested that there were more than 4 million registered voters in the November 2022 general election, with the state leaning slightly Republican.The bill, SCR 1007, went through two readings as part of the state senate’s calendar on Jan.

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