July 31, 2019

CNN: Democratic Debate Night 1

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According to an analysis by the Institute on Taxation and Economic Policy for the second year running, Amazon made a profit of more than $11 billion in 2018, but reported a $129 million tax rebate from the federal government.

Amazon does pay state taxes, and has also paid federal taxes in the past. The Wall Street Journal reported recently that Amazon’s overall tax rate from 2012 through 2018 was 8%.“From 2012 through 2018, Amazon reported $25.4 billion in pretax US income and current federal tax provisions totaling $1.9 billion,” the Journal reported. “That is an 8% tax rate — low, but not zero or negative. Looking back further, since 2002, Amazon has earned $27.7 billion in global pretax profits and paid $3.6 billion in global cash income taxes, a 13% tax rate.” Read more



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