Citations
ITEP's Citations Research Priorities
Yahoo! Finance: Amazon paid a 1.2% tax rate on $13,285,000,000 in profit for 2019
February 7, 2020
Matthew Gardner, senior fellow for the Institute on Taxation and Economic Policy (ITEP), who analyzes corporations and their tax avoidance, says there’s “no meaningful” connection between Amazon and many of the taxes it listed in its announcement. Instead, the company lists taxes it collects on behalf of the U.S. government, like payroll taxes and sales […]
The Sun: AMAZON’S DIME Amazon paid just ONE per cent tax after making $13BILLION profit leaving taxpayers with jus $162million
February 7, 2020
One expert found ‘no meaningful’ link between Amazon and the tax payments in the SEC filing. Matthew Gardner, a senior fellow for the Institute on Taxation and Economic Policy, wrote: “Economists agree that payroll taxes are ultimately paid by employees in the form of reduced compensation. “Like the sales tax, the payroll tax is one […]
Fox Business: Amazon paid tax rate of 1.2% on $13B in profits last year
February 7, 2020
“This means that instead of avoiding 100 percent of its income tax liability, Amazon appears to have avoided only 94 percent of its tax bill last year,” Matthew Gardner, senior fellow at the Institute on Taxation and Economic Policy, wrote in a blog post. Read more
The Daily Mail: Amazon paid only $162M in US federal taxes in 2019 after making $13BILLION in profit – an effective rate of just one per cent
February 7, 2020
Taxes collected on behalf of the government for payroll and from online sales from third-party vendors don’t count as taxes paid. The expert wrote in a post made for the Institute on Taxation and Economic Policy that ‘economists agree that payroll taxes are ultimately paid by employees in the form of reduced compensation.’ ‘Like the sales […]
Politico: Cloudy Forecast for Tax Law Fixes
February 6, 2020
DECOUPLING DEDUCTIONS: Two-thirds of states with property tax deductions set a $10,000 ceiling along the lines of the TCJA’s cap on federal deductions for state and local taxes, according to a new report from the Institute on Taxation and Economic Policy, a left-leaning group that considers such deductions regressive. Many states tightly link their tax […]
International Business Times: Amazon Only Paid 1.2% Taxes In 2019 Despite $13 Billion Profit
February 6, 2020
Yahoo Finance, however, pointed that with the exception of the federal income tax, the listed amounts aren’t actually taxes Amazon paid to the federal government. There’s “no meaningful” connection between Amazon and many of the taxes it listed in its announcement, said Matthew Gardner, senior fellow for the Institute on Taxation and Economic Policy (ITEP) that […]
CNBC: Amazon had to pay federal income taxes for the first time since 2016 — here’s how much
February 4, 2020
However, paying something like payroll tax is hardly something to boast about, according to Matthew Gardner, a senior fellow at the Institute on Taxation and Economic Policy, or ITEP, a nonpartisan and nonprofit tax policy think tank. In a blog post responding to Amazon’s release of its 2019 tax bill, Gardner notes that “economists agree […]
The Verge: Amazon finally owes federal income taxes this year — but we still don’t know how much it’s paying
February 4, 2020
t’s still, however, a low number compared to Amazon’s total profits. “It’s not fair to say [Amazon] paid nothing” on federal taxes anymore, says Matthew Gardner of the Institute on Taxation and Economic Policy, whose reports have spurred coverage of Amazon’s taxes. “Clearly they’re not paying nothing. They’re paying very little.” Gardner takes issue with […]
Bond Buyer: IRS SALT regulation allows loophole for pass-through businesses
February 3, 2020
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Morning Call: Air Products collects $17 million tax rebate, one of many Fortune 500 companies that paid no corporate taxes
February 3, 2020
Air Products joined PPL, which during approximately the same period had a $19 million federal tax cut, according to the nonprofit Institute on Taxation and Economic Policy. Fortune 500 company PPL not only paid no federal taxes last year, it got a $19 million rebate; it says it has invested those savings » The institute […]
Massachusetts Budget and Policy Center: The Gas Tax: What it is and Who Pays
January 31, 2020 • By ITEP Staff
Data from the Institute on Taxation and Economic Policy (ITEP) detail how the current system of state and local taxes in Massachusetts is regressive, largely because the state uses a flat income tax rate and relies heavily on sales taxes. The chart above shows how an increase in the gas tax would make Massachusetts taxes […]
Seattle Times: Amazon touts 2019 federal taxes, but the picture is complicated
January 31, 2020
So was Amazon’s 2019 U.S. federal income tax bill $1 billion or $162 million? The discrepancy stems from different financial statements companies prepare for tax authorities and investors, which recognize revenues and expenses at different times. Matthew Gardner, a senior fellow at the Institute on Taxation and Economic Policy and a longtime watcher of corporate […]
Gizmodo: Amazon’s Tax Claims Are Riddled with BS
January 31, 2020
According to Matthew Gardner, a senior fellow with the Institute on Taxation and Economic Policy, these numbers are, at best, misleading. “You look at the different types of taxes that they’re collecting here—and they don’t say ‘pay’, they say ‘collect’—and there’s a reason for that. The biggest number on this list is the sales and […]
Florida Policy Institute: Earned Income Tax Credit Crucial for Working Families
January 31, 2020 • By ITEP Staff
State EITCs are better targeted to people with low income than blanket tax exemptions, so they help to reduce the disproportionate impact of sales and excise taxes. According to new data from the Institute on Taxation and Economic Policy, a state EITC at 30 percent of the federal credit would reduce the share of income […]
Alabama Arise: End Alabama’s state grocery tax and protect school funding
January 30, 2020 • By ITEP Staff
How to untax groceries without costing education a dime It’s crucial to replace the grocery tax revenue without hurting the people who would benefit most from the tax’s elimination. Fortunately, Alabama has a way to untax groceries while protecting both struggling families and education funding. That solution would be to end an unusual tax loophole […]
USA Today: State taxes: Which are the most tax-friendly states for the wealthy?
January 29, 2020
Wealthier Americans tend to pay a smaller share of their income in state and local taxes than lower-income Americans. According to a 2018 report released by The Institute on Taxation and Economic Policy, a Washington D.C.-based think tank, the highest-earning 1% of American families pay just 7.4% of their income in state and local taxes […]
West Virginia Center on Budget & Policy: Who Pays? Rethinking West Virginia’s Tax System
January 28, 2020 • By ITEP Staff
To get a sense of a state’s values, one often need look no further than its tax system. What a state spends its tax dollars on and how it acquires those tax dollars typically reveals a lot about the priorities of its people—what they care about and what they stand for. In theory, it’s a […]
New Mexico Voices for Children: Expanding New Mexico’s Best Anti-Poverty Program
January 28, 2020 • By ITEP Staff
The Working Families Tax Credit (WFTC) is New Mexico’s equivalent of the federal Earned Income Tax Credit (EITC). The WFTC’s eligibility levels and credit amounts are based directly on the EITC, and like most states, the amount is a set percentage of the federal EITC. These tax credits reduce poverty, improve outcomes for children, and […]
Arizona Center for Economic Progress: In Search of a State Budget That Creates Opportunity for All
January 28, 2020 • By ITEP Staff
While all families in Arizona help pay for health, education and public safety through state and local taxes, low-income and middle-income families pay a larger portion of their income in taxes than do wealthier families. When all types of state and local taxes are combined—income, sales, and property—families with income in the lowest 20 percent […]
Scroll.in: At the centre of the US government and Facebook’s tax dispute is the company’s Dublin office
January 27, 2020
If the IRS prevails in court, it could cost Facebook up to $9 billion more in taxes, based on estimates in the company’s securities filings. It would be a notable defeat for a company that, when it comes to risky tax avoidance, has been more aggressive “than almost any other US corporation,” said Matt Gardner, […]
Washington Post: Va. Governor Proposes Gas Tax Increase
January 27, 2020
Virginia would join 31 states that have raised or reformed their gas tax in the last decade, according to the Institute on Taxation and Economic Policy. Read more
The Washington Spectator: Tax Policy Options for the Next Administration
January 26, 2020
Bernie Sanders has proposed taxing estates worth more than $3.5 million. The Institute on Taxation and Economic Policy estimates that this would raise more than $30 billion a year. Another reform would generate a good deal more revenue—ending the so-called “step-up” provision of capital gains. When heirs receive an asset, they don’t owe taxes on […]
The Arizona Center for Economic Progress: In Search 2020
January 26, 2020 • By ITEP Staff
In Search of State Budget That Creates Opportunity for All When all types of state and local taxes are combined—income, sales, and property—families with income in the lowest 20 percent pay twice what families in the top 1 percent do—$12.95 for every $100 of income and $8.49 for middle income families compared to $5.91 for […]
Business Insider: Treasury Secretary Mnuchin keeps insisting Trump’s tax cuts will pay for themselves despite consistent evidence they exploded the federal deficit
January 25, 2020
It’s soaring because the government is collecting fewer tax dollars as a result of the cuts. One study from the Institute on Taxation and Economic Policy, a left-leaning think-tank, released in December suggested corporate taxes are at a 40-year low. Read more
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