Tech Giant Amazon To Pay $0 In Taxes for 2018

According to a newly released report, the Jeff Bezos run tech giant Amazon is set to pay zero dollars in federal income tax for the second year in a row. As Yahoo News reports:

According to a report from the Institute on Taxation and Economic Policy (ITEP), Amazon (AMZN) will pay nothing in federal income taxes for the second year in a row.

Thanks to the new Tax Cuts and Jobs Act (TCJA), Amazon’s federal tax responsibility is 21% (down from 35% in previous years). But with the help of tax breaks, according to corporate filings, Amazon won’t be paying a dime to Uncle Sam despite posting more than $11.2 billion in profits in 2018.

How is that possible?

“It’s hard to know exactly what they’re doing,” said Steve Wamhoff, ITEP’s Director of Federal Tax Policy. “In their public documents they don’t lay out their tax strategy. So it’s unclear exactly which breaks [the company is taking advantage of]. They vaguely say tax credits. One could think of many different ways a corporation could do this, like the depreciation breaks which were expanded under TCJA.”

Bezos has long been an outspoken liberal opponent of President Trump. How is he getting away with this?


Subscribe
Notify of
guest
8 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments
trackback
1 year ago

… [Trackback]

[…] Find More Information here to that Topic: americanupdate.com/uncategorized/tech-giant-amazon-to-pay-0-in-taxes-for-2018/ […]

trackback
1 year ago

… [Trackback]

[…] Info to that Topic: americanupdate.com/uncategorized/tech-giant-amazon-to-pay-0-in-taxes-for-2018/ […]

trackback
1 year ago

… [Trackback]

[…] Here you will find 59457 more Info on that Topic: americanupdate.com/uncategorized/tech-giant-amazon-to-pay-0-in-taxes-for-2018/ […]

trackback

… [Trackback]

[…] Find More to that Topic: americanupdate.com/uncategorized/tech-giant-amazon-to-pay-0-in-taxes-for-2018/ […]

trackback

… [Trackback]

[…] Read More here on that Topic: americanupdate.com/uncategorized/tech-giant-amazon-to-pay-0-in-taxes-for-2018/ […]

trackback
1 year ago

… [Trackback]

[…] Here you can find 81642 more Information on that Topic: americanupdate.com/uncategorized/tech-giant-amazon-to-pay-0-in-taxes-for-2018/ […]

trackback
1 year ago

… [Trackback]

[…] Find More Information here to that Topic: americanupdate.com/uncategorized/tech-giant-amazon-to-pay-0-in-taxes-for-2018/ […]

trackback
1 year ago

… [Trackback]

[…] Read More Info here to that Topic: americanupdate.com/uncategorized/tech-giant-amazon-to-pay-0-in-taxes-for-2018/ […]