Overstock To Pay Certain Ohio Business Taxes In Bitcoin
Law360 (January 3, 2019, 3:09 PM EST) -- Online retailer Overstock.com said Thursday it would become the first company to pay part of its Ohio state taxes in bitcoin, following the Buckeye State's announcement in November that it would accept tax payments based on the cryptocurrency.
Overstock plans to pay "commercial activity taxes" owed to the state using the OhioCrypto.com platform, which was formed to allow state taxpayers to pay business taxes with bitcoin.
"We are proud to partner with forward-thinking governments and officials like Ohio and Treasurer [Josh] Mandel to help usher in an era of trust through technology for our nation's essential financial systems," Overstock CEO Patrick Byrne...
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