“We are only taxing about half of all corporate profits,” observed Matt Gardner, a senior fellow at the Institute on Taxation and Economic Policy, which put out a report on Monday highlighting Zoom’s likely $0 federal tax bill for 2020.
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“There is nothing exceptional or illegal in what Zoom is doing here,” said Gardner, the author of the report on Zoom’s $0 tax bill. “The real question is that at a time when a lot of businesses have had trouble keeping the doors open, if a company that has had the success of Zoom in the past year is not going to pay taxes, then who is.”
