Amazon paid no federal taxes for the second year in a row

[RichardCranium]

https://www.foxbusiness.com/markets/amazon-paid-no-federal-taxes-for-the-second-year-in-a-row


Jeff Bezos’ sprawling e-commerce empire, Amazon, almost doubled its profits in 2018, but for the second year in a row paid zero dollars in federal income tax.


The world’s largest online retailer, which is worth $795 billion, earned a record $11.2 billion in U.S. profits, according to the company’s U.S. Securities and Exchange Commission (SEC) filing earlier this month, yet did not pay the 21 percent U.S. corporate tax, thanks to leveraging unspecified tax credits and stock-based compensation deductions.

Instead, as first reported by the Institute on Taxation and Economic Policy, Amazon received a federal income tax rebate of $129 million, essentially amounting to a tax rate of negative 1 percent.

[Methais]

I want one of those too.

[Wrathbringer]

Neither did I. Can't blame people for using the loopholes legislated into the law. Don't hate the taxpayer, hate the code.

[Stumplicker]

While it seems kind of shitty when read that way, I mean...it's a nearly trillion dollar company, like you said, and it's creating and supporting millions of jobs both internally and externally (UPS, Fedex and USPS are no slouches themselves). It's a primary driving source behind the economy. There isn't a country on the planet that would not take a deal if offered to pay Amazon $130 million per year to relocate and bring all that unobtainium into their country's economy.