Amazon Will Pay a Whopping $0 in Federal Taxes on $11.2 Billion Profits

And Amazon tries to extort welfare for itself from states where it might locate part of its business.

http://fortune.com/2019/02/14/amazon-doesnt-pay-federal-taxes-2019/?fbclid=IwAR1-NTD9ZR4GbBJtl_qD-95jbuCcuJ723PNzgpzMoWlv8s_ODEyeRNTK1wM

By Laura Stampler
Feb. 14, 2019

Those wondering how many zeros Amazon, which is valued at a trillion dollars, has to pay in federal taxes might be surprised to learn that its check to the IRS will read exactly $0.00.

According to a report published by the Institute on Taxation and Economic (ITEP) policy Wednesday, the e-tail/retail/tech/entertainment/everything giant won’t have to pay a cent in federal taxes for the second year in a row.

This tax-free break comes even though Amazon almost doubled its profits from $5.6 billion to $11.2 billion between 2017 and 2018.

To top it off, Amazon actually reported a $129 million 2018 federal income tax rebate—making its tax rate -1%.

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But even though Trump previously blasted Amazon for its limited state taxes—a single presidential tweet caused the company’s shares to fall by 9%—ITEP notes that its non-existent federal tax payment is a result of the Trump Administration’s corporation-friendly tax cuts. The think tank writes that the 2017 Tax Cuts and Jobs Act not only decreased corporate tax rates from 35% to 21%, but it also didn’t close “a slew of tax loopholes that allow profitable companies to routinely avoid paying federal and state income taxes on almost half of their profits.”

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