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Amazon will pay $0 in taxes on $11,200,000,000 in profit for 2018

18 viewing
  • O
    One
    "In 2016, the U.S. Government Accountability Office found that — each tax year from 2006 to 2016 — “at least two-thirds of all active corporations had no federal income tax liability.” While the GAO report found that most large, profitable corporations did pay taxes, it found the amounts they actually paid were significantly different than the statutory rate.

    In 2012 specifically, the report found that 43 percent of corporations with at least $10 million in assets paid no federal income tax. Of those large
    corporations who reported a profit, 19.5 percent paid no federal income tax for 2012."
  • J
    Jonathan
    It is hard go blame Amazon in this situation. Would you volunteer extra money each year if not required to do so? But if you're not outraged by a corporation paying an effective tax rate of 0% on those level profits, then we will be approaching a $30 trillion deficit soon enough. This needs to be a priority of Congress to close these loopholes.
  • L
    Leonard
    Great meanwhile my small business is struggling to pay off 2016 federal income tax
  • A
    Anonymous
    Well, imagine that - Amazon following the current American corporate tax laws and policies, as determined by our lawmakers, to their bottom-line advantage. How could this be possible...??
  • E
    Eric
    I don't quite understand the headline and then this statement, "including paying $2.6 billion in corporate tax and reporting $3.4 billion in tax expense over the last three years," an Amazon spokesperson said in a statement. So which is it? Did Amazon actually pay $2.6 billion or not? This report seems contradictory.
  • 2
    2Wealthy
    TCJA had been criticized in large part due to the benefits it provided the wealthiest Americans and big corporations. Wamhoff says it’s ironic that the corporate tax rate was slashed to 21% (from its previous 35%) because the effective corporate tax rate under previous tax law was 21%, after accounting for tax breaks and loopholes.

    Therefore, Wamhoff says, we’ll likely see the effective tax rate fall even lower.
  • T
    Tony D
    Why is it so hard to impose a minimum tax rate for corporations? If they make a profit, they should pay at least a 12% tax regardless of any other rules.
  • W
    WilliamF
    Meanwhile I cant deduct my state income tax., mortgage or property taxes over 10K
  • K
    Keith
    Dont blame Amazon. Blame the Gov't they made the rules. If I make 100k per year and there are tax rules I can use to not pay anything and still obey the law, I am certainly going to take advantage of that and not pay taxes. IT is the lawmakers fault. In fact it is the responsibility of Amazon to its shareholders as it is a publicly traded company, to pay the least amount of tax as legally possible.
  • T
    Thomas
    Well if 2011 was the first year Amazon made money then you need to go back to the years they reported a taxable LOSS. They then are allowed to carry forward those losses to offset taxable income. The loss carry forwards are used until they are gone or 20 years whichever come first. Yes there are other tax credits that can be used but I would say that it is losses carried forward that enables large corporations to have no tax liabilities in a year that they show book income.