USA Today: Amazon Pays No Federal Income Tax for 2018, Despite Soaring Profits, Report Says
media mentionProfits for online retail behemoth Amazon soared in 2018, but it paid no federal income tax for the second consecutive year, according to a report published Wednesday.
The Institute on Taxation and Economic Policy says the company is subject to a 21 percent tax rate on its U.S. income. However, through various tax breaks and credits, the company will receive a tax rebate of $129 million.