[ad_1]
(Newser)
–
Amazon, pay federal taxes? Hope Uncle Sam does not hold his breath. The retail giant paid the federal government zero dollars in 2017 and 2018, despite profits of nearly $ 17 billion. guardian reports. It would appear that Amazon has used tax credits and tax breaks for stock options for executives to convert its rate of 21% (instead of of 35% provided in President Trump's new tax plan) in a federal rebate of $ 128 million. "This is not their first rodeo," said a senior fellow of the Institute on Taxation and Economic Policy, who released a report on Amazon's tax payments. . "More than any company I've ever seen, it's built around tax avoidance."
Trump has criticized Amazon for paying too little tax, according to Yahoo Finance, and the representative Alexandria Ocasio-Cortez is among the Democrats in full agreement. "$ 0 for schools, $ 0 for firefighters, $ 0 for infrastructure, $ 0 for research and health care," she said. tweets. But Marketwatch describes Amazon's fiscal strategy in detail, noting that she had earned credit in bad years and used "tax code" strategies that benefit all public companies. Amazon has also paid nearly $ 1.2 billion in local, state, and international taxes for 2018. Amazon's thoughts on all this? The company states in part that it "pays all the taxes we owe in the United States and in all the countries in which we operate." (Another big company shocked a city with its 350-acre development and taxation plan.)
[ad_2]
Source link