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Amazon pays $0 corporate income tax. They pay huge amounts of other taxes.
by bobcostas55 8y ago
Amazon pays $0 corporate income tax. They pay huge amounts of other taxes.
- vonmoltke 8y agoIs there a citation for this that does not lead back to that probably-biased ITEP article? Edit: clarification, since it seems my question as misinterpreted. Is there a citation for the $0 in federal income tax?
- Loughla 8y agoThis is my question as well.
- gimmeThaBeet 8y agoTheir financial statements show they provisioned $1.2 B in income taxes worldwide for 2018, I suppose from that narrow perspective you have to define 'plenty'. Their effective tax rate seems like it's in the 10% range? I think it'd be difficult to measure their employee tax footprint, I haven't been able to find good numbers on that, a Fermi estimate makes their numbers seem plausible if they went according to plan. https://ir.aboutamazon.com/static-files/ce3b13a9-4bf1-4388-89a0-e4bd4abd07b8 https://ir.aboutamazon.com/static-files/ce3b13a9-4bf1-4388-8...
- credit_guy 8y agoNot the OP, but here's a Bloomberg article about this [1]. It has a bit of an incendiary tone. Later Bloomberg published an editorial [2] explaining that actually there's nothing scandalous about the zero federal tax rate; it is due to a difference between tax accounting and GAAP accounting. For tax purposes deferred equity compensation is considered to be out-the-door the moment it is granted, for GAAP purposes it's out-the-door the moment it vests. [1] https://www.bloomberg.com/news/articles/2019-02-22/tax-law-didn-t-help-amazon-pay-zero-in-2018-it-was-just-savvy https://www.bloomberg.com/news/articles/2019-02-22/tax-law-d... [2]https://www.bloomberg.com/opinion/articles/2019-02-26/amazon-s-vanishing-tax-bill-isn-t-a-scandal https://www.bloomberg.com/opinion/articles/2019-02-26/amazon...