Georgia legislators may reduce the tax burden for miners

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The House of Representatives of the US state of Georgia is considering bill number 1342, which provides for tax breaks for miners.

Georgia lawmakers are hoping the special tax regime will attract cryptocurrency mining companies to the state. The document, filed on February 14, provides for an exemption from the tax base “the sale or use of electricity used for the commercial mining of digital assets.” The bill was prepared by five deputies from the Republican Party.

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In order for a mining farm to fall under a special tax regime, it is necessary that its total area is at least 6,950 square meters. Legislators expect more than 56,000 devices to be deployed at sites in Georgia by October if the bill passes. A preliminary agreement has already been concluded with Bitmain, ISW Holdings and Bit5iv.

Recall that in the spring of last year, similar tax breaks were approved by legislators in the US state of Kentucky.

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Source: Bits

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