Amazon, the e-commerce giant helmed by the world’s richest man, paid no federal taxes on profit of $11.2 billion last year, according to an analysis of the company’s corporate filings by the ...
Those wondering how many zeros Amazon, which is valued at nearly $800 billion, has to pay in federal taxes might be surprised to learn that its check to the IRS will read exactly $0.00.
According to a report published by the Institute on Taxation and Economic (ITEP) policy Wednesday, the e-tail/retail/tech/entertainment/everything giant won’t have to pay a cent in federal taxes for the second year in a row.
This tax-free break comes even though Amazon almost doubled its U.S. profits from $5.6 billion to $11.2 billion between 2017 and 2018.
To top it off, Amazon actually reported a $129 million 2018 federal income tax rebate—making its tax rate -1%.
Washington Post.
https://itep.org/amazon-in-its-prime-doubles-profits-pays-0-in-federal-income-taxes/
https://itep.org/amazon-in-its-prime-doubles-profits-pays-0-in-federal-income-taxes/
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