Amazon didn’t paid federal tax even after making a profit of $11.2 billion in 2018....| Hi-Tech-Blog |


Today in this article, we would talk about Amazon which is not paying any taxes for the second year in a row,  because for various unspecified ‘tax credits’ and executives stock options.

Amazon-didn’t-paid-federal-tax-even-after-making-a-profit-of-$11.2-billion-in-2018| Hi-Tech-Blog |
Amazon didn’t paid federal tax even after making a profit of $11.2 billion in 2018....| Hi-Tech-Blog |

Why……

   Well, amazon will not pay even a single cent in income tax on the profit it made last year. And now local politicians are asking that why a company which made a profit of $1 billion a month should be lured to New York with taxpayer’s cash? As, ITEP(Institute on Taxation and Economic Policy) published a report which states that Amazon is not paying a single cent in income taxes for the second year in a row. Now, talking about the profit, it came to know that Amazon was successful in doubling  it’s profit, that is from $5.6 billion to $11.2 billion. And, ITEP said, “The fine print of Amazon’s income tax disclosure shows that this achievement is partly due to various unspecified tax credits as well as a tax break for executive stock options.

Amazon-didn’t-paid-federal-tax-even-after-making-a-profit-of-$11.2-billion-in-2018| Hi-Tech-Blog |
Amazon didn’t paid federal tax even after making a profit of $11.2 billion in 2018....| Hi-Tech-Blog |

  And, another thing which is, not only Amazon but also Netflix comes here too. Netflix made a profit of $845M in 2018, paid no federal or state income tax…! Federal corporate tax rates were sharply cut as the corporate bonuses came after Trump administration introduced it’s Tax Cuts and Jobs Act. Matthew Gardner, the senior ITEP fellow said, “This is not their first rodeo. More than any company I have ever seen they have built their company around tax avoidance.” And about Trump’s tax cuts, he claimed that one central idea of Trump’s tax cuts was to cut corporate tax rates from 35% to 21% but as the tax filings come in it is becoming increasingly clear that many companies are not even paying the lower rate.

Amazon-didn’t-paid-federal-tax-even-after-making-a-profit-of-$11.2-billion-in-2018| Hi-Tech-Blog |
Amazon didn’t paid federal tax even after making a profit of $11.2 billion in 2018....| Hi-Tech-Blog |

 And, for this Amazon said that it pays all the taxes which they are required to pay in the US and every other country they operate, including paying $2.6 billion in corporate tax and reporting $3.4 billion in tax expense over the last three years.

Hi Tech Blog

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