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Home / Business / Amazon Banked $ 11B in profit last year and paid $ 0 in Federal Taxes

Amazon Banked $ 11B in profit last year and paid $ 0 in Federal Taxes




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Amazon, pay federal taxes? Hope Uncle Sam doesn't hold his breath. Retail giant paid zero dollars in cash in 2017 and 2018 despite profits of nearly $ 17 billion, Guardian . Amazon seems to rely on tax credits and tax breaks for stock options to reverse its 21% decline from 35% under President Trump's new tax plan – to a $ 128 million federal discount. "This is not their first rodeo," says a senior fellow at the Department of Taxation and Economic Policy, which issued a report on Amazon's tax payments. "More than any company I've ever seen they have built their company around tax fraud."

Trump has criticized Amazon for paying too little in taxes, per Yahoo Finance, and Rep. Alexandria Ocasio-Cortez is among the Democrats in full agreement. "$ 0 for schools. $ 0 for firefighters. $ 0 for infrastructure. $ 0 for research and healthcare," she tweets . But Marketwatch breaks down Amazon's tax strategy, noting the accrued credits in bad years, using strategies "backed up by the tax code" that all public corporations enjoy. Amazon also paid nearly $ 1.2 billion in local, state, and international taxes for 2018. Amazon's thoughts on all this? The company says in part that it "pays all the taxes we have to pay in the US and every country in which we operate." (Another large company shocked a city with the plan to develop and tax 350 hectares of land.)

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