International Business Times: Amazon Only Paid 1.2% Taxes In 2019 Despite $13 Billion Profit

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 analyzes corporations and their tax avoidance.

Gardner said Amazon wrongfully listed as taxes it paid, those taxes it collects on behalf of the U.S. government like payroll taxes and sales taxes from third-party vendors. He said “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 that the company really just collects and sends to the government, as required by law.” Read more

---