Amazon Paid ZERO Federal Taxes And Got 125 MILLION DOLLAR REFUND. How Much Do You Pay For Amazon Prime?

The general population are ignorant about tax code and it’s effect on the economy. BTW - businesses do not get refunds - look it up.

Amazon did.

No. They did not. They got a tax rebate that may be rolled over as a credit toward future tax bills. They do not get a cash refund as you or I would.

Tax law didn’t help Amazon pay zero in 2018 — it was just savvy

By Laura Davison Bloomberg News
Published February 25 2019, 12:30pm EST
More in Corporate taxes Trump tax plan Tax breaks Jeff Bezos Amazon
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Amazon.com Inc. does not plan to pay the IRS anything this tax season. Yet that’s not largely because of President Donald Trump’s tax overhaul.

The world’s largest retailer simply took advantage of long-standing, low-profile tax deductions. It paid its employees in stock, built new warehouses and tapped tax breaks from when the company wasn’t profitable.

Amazon’s projected $129 million refund highlights how companies can harness the complexities of the U.S. tax code for their own benefit. As a tech company with highly appreciated stock that also relies on brick-and-mortar fulfillment centers and shipping hubs, Amazon is uniquely situated to use the full range of preferences baked into the tax laws.

Amazon.com CEO Jeff Bezos
Amazon.com CEO Jeff Bezos
Andrew Harrer/Bloomberg
And it wasn’t an unusual bumper year in 2018 that led to Amazon’s $0 tax bill. It didn’t pay any federal tax in 2017, either.

That sweet situation feeds into the public’s annoyance that a company with more than $232 billion in revenue and led by the world’s richest man — Jeff Bezos — doesn’t pay more in taxes.

That annoyance boiled over in New York earlier this month when Amazon, which had been offered as much as $3 billion in tax incentives to build a second headquarters in Queens, dropped the plan amid fierce opposition from local politicians and community activists.

“I get the frustration out there, but it’s not like they’re doing anything illegal,” Brian Yarbrough, a senior equities analyst at Edward Jones, said. “It’s how the tax law works.”

Despite having hundreds of billions in revenue, the company only booked about $9.4 billion in profit in 2018, creating a significantly smaller base on which taxes and offsetting credits and deductions are applied. The company says it pays all required federal, state and international taxes.

“Corporate tax is based on profits, not revenues, and our profits remain modest, given retail is a highly competitive, low-margin business,” Amazon said in a statement, adding that it’s continuing to invest in its operations.

Amazon gets both the benefits usually used by technology companies — deductions for paying employees in stock — as well as the write-offs for companies that rely heavily on building physical infrastructure.

The research

This is what corporate tax code does for the country. It’s not gaming the system or loopholes, it’s legitimate tax code intentionally written to encourage capital investment and growth which ultimately results in HIGHER EMPLOYMENT. The majority of the population hasn’t got an effing clue. Companies want to invest and grow and hire more, lower tax burden is a considerable encouragement. Too bad a basic economics class is not mandatory in our high school curriculum.

Someone paid attention in class!

Lol! Too many out there eager to bite the hand that feeds 😆

That's a lot to copy and paste. Still doesn't make the meme untrue though.

It has nothing to do with tax reform or Trump.

Yes it does.

No. What makes it untrue a) is there’s no such thing as a corporate refund, and b) Trumps tax reform had nothing to do with the write-offs and carry-overs permitted by tax code that’s existed for decades. And no, it was a single graphic to copy/paste, barely an inconvenience, no trouble at all.

Except it is true.

The ignorant masses revel in their massive ignorance.

Did Amazon make billions? Yes. Did Amazon get a refund. Yes. Did trump have anything to do with it? Yes. Is ignorance in abundance? Yes. Simple stuff doesn't need to be complicated to make a point.

where their argument is true,and not some knee jerk defense of neo-liberal corporate capitalism. (/puke)

is that the tax cuts have been there for almost 40 years.
now during the bush administration there was a massive tax cut,and Obama made those permanent.trump's tax cuts just extended the cuts even further.

everything else they are trying to sell is just pure sophistry.

"trump's tax cuts just extended the cuts even further.". Exactly.

Not true. Loss carry forwards have been part of the tax code long before Trump ever considered being a politician. Perhaps you are confusing accounting income with taxable income.

It's true.

https://itep.org/amazon-in-its-prime-doubles-profits-pays-0-in-federal-income-taxes/

Thank you.