Overstock.com to Pay Ohio State Business Taxes in Bitcoin Using OhioCrypto.com
Overstock.com, Inc. (OSTK)
Last overstock.com, inc. earnings: 11/12 08:00 am
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Source: GlobeNewswire
SALT LAKE CITY, Jan. 03, 2019 (GLOBE NEWSWIRE) -- Leading online retailer and blockchain technology pioneer Overstock.com, Inc. (NASDAQ:OSTK) announced today that it will become the first major U.S. company to pay a portion of its Ohio state business taxes in bitcoin using the state’s new cryptocurrency taxpayer platform, OhioCrypto.com. Overstock plans to pay its commercial activity taxes (CAT) in Ohio this February using the recently-launched OhioCrypto.com platform, which allows taxpayers to pay state business taxes with bitcoin. Ohio is the first U.S. state to offer a cryptocurrency payment system for state business taxes. “We have long thought that thoughtful governmental adoption of emerging technologies such as cryptocurrencies (when accompanied by non-restrictive legislation over these technologies) is the best way to ensure the U.S. does not lose our place at the forefront of the ever-advancing global economy,” said Overstock CEO and founder Patrick M. Byrne. “We are prou
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