Kentucky Lawmakers Looks To Offer Tax Breaks To Crypto Miners

Kentucky lawmakers looks to offer tax breaks to crypto miners. Kentucky lawmakers have proposed for the commonwealth to give tax cuts to cryptocurrency miners that are looking to tap into the energy rich zone.

The bill of General Assembly Representatives Steven Rudy and Chris Freeland introduced last week would exclude “commercial cryptocurrency miners” from paying 6% sales taxes or 6% excise taxes on their rigs’ electric bills and mining equipment.

The bill stated that due to its low energy rates and rich supply, Kentucky “has an opportunity to become a national leader” in crypto mining .Tax breaks would help the Commonwealth further compete. The Republican lawmakers submitted their 13-page bill to the General Assembly on Jan. 8, where it now sits in committee.

[image: Wallpapercave]

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