Overstock Will Be First Major Company to Pay State Taxes in Bitcoin

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Online retail giant Overstock will become the first major US company to pay part of its 2019 Ohio state business taxes in bitcoin. Overstock — which has a blockchain business division — said the move is part of its ongoing efforts to promote cryptocurrency use.

Overstock CEO and founder Patrick Byrne praised Ohio and its treasurer Josh Mandel for making Ohio the first US state to accept bitcoin for tax payments.

“We are 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,” Byrne remarked in a statement.

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