E-commerce company Overstock.com will be first major company in U.S. to pay portion of state business taxes in Ohio with Bitcoin in February 2019

Briefing

January 23, 2019

Briefing	Cryptocurrency for Taxes – E-commerce firm Overstock.com announced it will be first major U.S. company to pay part of state business taxes with Bitcoin Commercial Activity Taxes – Company will pay commercial activity taxes (CAT) in Ohio using state’s cryptocurrency platform OhioCrypto.com in February 2019 First State to Accept Cryptocurrency – Ohio is first state in U.S. to allow companies to pay state business taxes using cryptocurrency Other Cryptocurrency Initiatives – Overstock.com became first major retailer to accept cryptocurrencies as payment in 2014
Accelerator	Web3 Ecosystems, Tokens and Consensus Mechanisms
Market Disruption	Innovation, Competitiveness and Trade, New Payment Technologies
Sector	Government (excluding military), Information Technology, Wholesale and Retail Trade
Organization	Overstock.com Inc.
Source	Chang, S., "Overstock will be first major company to pay state taxes in Bitcoin", CCN, https://www.ccn.com/; Redman, J., "Overstock becomes the first major US company to pay business tax in Bitcoin", Bitcoin.com, https://www.bitcoin.com/; AcceleratingBiz analysis
Original Publication Date	January 3, 2019

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