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Wed Feb 13, 2019, 11:24 PM

Amazon will pay $0 in federal income taxes for the second year in a row

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. Last year was the first time Amazon paid no federal income tax whatsoever.

From 2011 to 2016, Amazon payed federal income tax at a rate of 11.4 percent less than half of the national rate of 35 percent. Due to President Trump's corporate-friendly tax cuts, 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.

Based out of Washington state, which has no income tax, Amazon has also been free from state filings on income.

https://theweek.com/speedreads/823590/amazon-pay-0-federal-income-taxes-second-year-row

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Reply Amazon will pay $0 in federal income taxes for the second year in a row (Original post)
ansible Feb 2019 OP
Me. Feb 2019 #1
SunSeeker Feb 2019 #2
Ferrets are Cool Feb 2019 #3
Takket Feb 2019 #10
brer cat Feb 2019 #12
Ohiogal Feb 2019 #4
Initech Feb 2019 #5
mcar Feb 2019 #6
redstateblues Feb 2019 #7
ansible Feb 2019 #11
dlk Feb 2019 #8
2naSalit Feb 2019 #9
dalton99a Feb 2019 #13
brooklynite Feb 2019 #14

Response to ansible (Original post)

Wed Feb 13, 2019, 11:26 PM

1. And They Want NY To Give Them Billions

wow

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Response to ansible (Original post)

Wed Feb 13, 2019, 11:30 PM

2. The scandal is that this is legal. nt

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Response to SunSeeker (Reply #2)

Wed Feb 13, 2019, 11:33 PM

3. This

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Response to SunSeeker (Reply #2)

Wed Feb 13, 2019, 11:52 PM

10. bingo!

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Response to SunSeeker (Reply #2)

Thu Feb 14, 2019, 08:51 AM

12. +++ nt

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Response to ansible (Original post)

Wed Feb 13, 2019, 11:34 PM

4. I wonder what

President Elizabeth Warren would do about that....

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Response to ansible (Original post)

Wed Feb 13, 2019, 11:36 PM

5. Hey! Republicans! Want to know who the real moochers of your paycheck are?

It's not illegal immigrants, it's your boss! But let's blame it on illegal immigrants because that's what the radio says.

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Response to ansible (Original post)

Wed Feb 13, 2019, 11:39 PM

6. Don't castigate Amazon for doing what they legally can

Why is this legal? That is the question.

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Response to ansible (Original post)

Wed Feb 13, 2019, 11:40 PM

7. Where is the fucking outrage!

If anything is immoral, this is it!

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Response to redstateblues (Reply #7)

Wed Feb 13, 2019, 11:54 PM

11. Some people are too busy cheering for Jeff Bezos

This guy is even worse than Trump in some ways.

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Response to ansible (Original post)

Wed Feb 13, 2019, 11:48 PM

8. Updating the Tax Code is Long Overdue

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Response to ansible (Original post)

Wed Feb 13, 2019, 11:48 PM

9. Imagine that.

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Response to ansible (Original post)

Thu Feb 14, 2019, 09:08 AM

13. The rich must get richer

and the poor must get poorer


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Response to ansible (Original post)

Thu Feb 14, 2019, 09:09 AM

14. TurboTax?

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