Amazon (AMZN) may be one of the largest corporate giants in the U.S., but its tax bill pales in comparison to some of the other top Fortune 500 companies, a new analysis shows.
Despite having a market cap of more than $470 billion and ranking 12 on the Fortune 500 list Opens a New Window., the e-commerce company has only paid $1.4 billion in corporate income tax since 2008, according to Clinical Professor at the NYU Stern School of Business Scott Galloway – and as reported byBloomberg Opens a New Window.. Comparatively, over the same time period, Walmart (WMT) paid $64 billion.
The reason Amazon has such a low corporate income tax bill is because its registered profit is small when compared with the companies that are paying higher rates: Since 2008, the e-commerce company’s pretax income has totaled just $11 billion, compared to Walmart’s $209 billion, according to Bloomberg’s analysis.
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