The rats are turning on each other.
"Despite record profits, Amazon didn't pay any federal income tax in 2017 or 2018. "
New York (CNN Business)Amazon hasn't paid any taxes to the US government in the past two years. Actually, Amazon received hundreds of millions of dollars in federal tax credits in 2017 and 2018.
That might seem nuts, considering Amazon is the third-most valuable company in the world and earned a record $10 billion last year. But critics of Amazon's tax bill aren't accusing Amazon of doing anything improper.
Amazon's total earnings have easily topped its losses — many times over. But some of Amazon's earnings came from sales outside the United States, on which Amazon paid either lower or no US taxes. Other earnings were offset by Amazon's investments in equipment, such computers and robots at its fulfillment centers.
Last year, Amazon benefited from an accelerated tax credit for equipment purchases, which was part of the corporate tax bill passed at the end of 2017. And the company has received research and development tax credits. So Amazon's federal tax bill came to a net credit of $129 million in 2018 after getting a $137 million tax credit in 2017.
https://www.cnn.com/2019/02/15/tech/amazon-federal-income-tax/index.html?utm_source=twCNN&utm_content=2019-02-15T20%3A56%3A01&utm_term=image&utm_medium=social