Amazon to Pay $0 in Federal Taxes Again After Doubling Profits in 2018 to $11.2B

February 15, 2019

"Amazon" does not describe the size of Amazon's latest tax bill. Fortune reports that the retail behemoth owes Uncle Sam absolutely nothing after raking in $11.2 billion in profits in 2018. In fact, Amazon's tax rate now technically stands at less than zero; as Fortune reports, "Amazon actually reported a $129 million 2018 federal income tax rebate--making its tax rate -1 percent." Amazingly, Amazon managed to double its earnings from just a year before, as it generated a comparatively paltry $5.6 billion in profit in 2017--and paid no federal taxes on that as well. The company paid an 11.4 percent federal income tax rate between 2011 and 2016, but that was effectively cut to zero thanks to the slashed corporate tax rates and "slew of tax loopholes" allowed by the 2017 Tax Cuts and Jobs Act. 

 

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