Amazon, which doubled its profits and made more than $11 billion in 2018, won't pay ANY federal income taxes for the second year in a row, the Institute on Taxation and Economic Policy reported on Wednesday.
The company will not be required to pay the standard 21 percent income tax rate on its 2018 profits, and is claiming a tax rebate of $129 million, which ITEP describes as a "a tax rate of negative 1 percent."
Amazon drew ire in 2018 for not paying federal taxes on its $5.6 billion in profits the year before, which was made possible due to tax credits and stock-based compensation, reports Politifact.
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5 comments:
I wonder how all the liberals that shop at Whole Foods feel about that.
Is that the definition of conundrum??
Incredible.
The middle class gets screwed, and the all ready well off pay less taxes.
Almost everyone I know is paying more in taxes.
I am at a stunned loss for words.
This is MAGA? The rich get richer and the middle class gets screwed? If this is what "great America" looks like "again", I don't want to go back to it.. leave America alone. In fact, it was "great" when Middle class folks payed less taxes and those who have money pouring out of their ears weren't screwing the rest of America.
Of course They Don't ..When You Got That Much Money U Have The Very Best Tax Accountants !!!!!
Good! I hope it pisses off the NY morons that kept them out. May not be right, but it's legal.
February 15, 2019 at 8:40 AM
not the smartest comment.
read the article
Amazon will pay any deferred or postponed taxes at the lowered rate of 21 percent rather than the previous rate of 35 percent, per Politifact.
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