https://finance.yahoo.com/news/amazon-taxes-zero-180337770.h...If they paid zero tax on billions of profit, what does this mean?:"Amazon pays all the taxes we are required to pay in the U.S. and every country where we operate, including paying $2.6 billion in corporate tax and reporting $3.4 billion in tax expense over the last three years,"This is one sick country if corporations can get away with this while the little guy pays more in tax than they do on billions of profit.When is the revolution going to start?
This is one sick country if corporations can get away with this while the little guy pays more in tax than they do on billions of profit.From p.27 of their recent 2018 10KWe recorded a provision for income taxes of $1.4 billion , $769 million , and $1.2 billion in 2016 , 2017 , and 2018 .https://seekingalpha.com/filing/4322618I'd imagine these income taxes they've paid are state and foreign."Little guys" don't pay Federal Income tax. Per the Tax Policy Center's most recent estimate, 44.4% of households pay no Federal Income Tax.https://www.taxpolicycenter.org/model-estimates/tax-units-ze...For those households who do pay Federal Income tax, according to the most recent IRS SOI Tax Stats, those with adjusted gross incomes of $50,000 and less paid 1% of all Fed Income tax collected, while those with AGI of $500K and more paid 43.7%. See Table 2.1https://www.irs.gov/statistics/soi-tax-stats-individual-inco...How much does Amazon invest in infrastructure, software development, new construction, new hires and robotic technology...to name a few? How many jobs has AMZN, directly and indirectly, been responsible for creating, with real benefits?I don't think you'd want to live in a world who revolted from what we have.BruceM
Years of losses yield tax loss carryover to shield income when you finally become profitable. Works for individuals or corporations. I suspect that explains not paying federal tax now. Credit for foreign taxes paid might also be a factor.
Years of losses yield tax loss carryover to shield income when you finally become profitable.Recall, too, GE's year of zero taxes a few years ago. In fact, that year, GE paid a potful of taxes; however, it also got a potful of subsidies and credits through its subordinates and affiliates that netted out at the corporate level so that, in fact, GE the corporation paid no net taxes.It's entirely possible that, in addition to the deduction items listed earlier in this thread, Amazon got a similar suite of subsidies and credits. And this particular item: $129 million 2018 federal income tax rebate. http://fortune.com/2019/02/14/amazon-doesnt-pay-federal-taxe...The NLMSM is either being stupidly careless or deliberately misleading to simply say that Amazon paid no taxes.Eric Hines
"I don't think you'd want to live in a world who revolted from what we have."Let's agree to disagree.
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