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Overstock Set To Become The First Major Company To Pay Its Taxes Using Cryptos In Ohio

05 Jan 2019

Based on a recent report, popular crypto-friendly retail giant with headquarters in the state of Ohio— Overstock, has made it known that it has plans to pay part of its business taxes to the state of Ohio using the government’s crypto dedicated website.  The company plans to make this payment using bitcoin.

Ohio’s Launch a Crypto Dedicated Website for Tax Payment — Ohiocrypto.com

Recently, the state of Ohio made history with the creation of a website dedicated to tax payment, making use of bitcoin. Through the state crypto dedicated website, Ohiocrypto.com, the company plans to pay part of its corporation’s commercial activities tax.

Ohiocrypto.com allows payment of taxes using bitcoin core (BTC) and bitcoin cash (BCH) through the popular crypto e-commerce payment solution —Bitpay. According to the CEO and founder of Overstock— Patrick Byrne, the state of Ohio has done well with the tax payment using cryptocurrency initiative. He is of the belief that the state is helping project the U.S as a “forward-thinking state” and also make sure the counter is not left behind in terms of new technology adoption.
He buttressed this a statement which reads:

“We have long thought that thoughtful governmental adoption of emerging technologies such as cryptocurrencies is the best way to ensure the U.S. does not lose our place at the forefront of the ever-advancing global economy,”

Overstock CEO: Ohio is Forward Thinking

Byrne continued by further emphasizing the significance of having non-restrictive regarding the affairs of the crypto industry.

Byrne made this known in a statement which reads:

“[Overstock] is proud to partner with forward-thinking governments and officials like Ohio and Treasurer Mandel to help usher in an era of trust through technology for our nation’s essential financial systems.”

It is important to note that Overstock is not new to the crypto scene. The company has been involved in crypto for quite a while and has even launched and raised funds for its own crypto projects.

Source From : Coindoo News

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