Amazon listed a “summary” of its 2019 U.S. taxes as including $2.4 billion in other federal taxes, including payroll taxes and customs duties, and more than $1.6 billion in state and local taxes. The company also noted that it remitted nearly $9 billion in sales and use taxes to states and localities in accordance with applicable law.
Deferred taxes represent a forecast of the taxes companies will need to pay. There’s “no guarantee” companies ultimately make tax payments equal to their deferred figures, said Matt Gardner, a senior fellow at the Institute on Taxation and Economic Policy. Read more