Amazon will pay $0 in federal income taxes for the second year in a row

[Madmallard]

Amazon, which doubled its profits and made more than $11 billion in 2018, won't pay any federal income taxes for the second year in a row, the Institute on Taxation and Economic Policy reported on Wednesday.

The company will not be required to pay the standard 21 percent income tax rate on its 2018 profits, and is claiming a tax rebate of $129 million, which ITEP describes as a "a tax rate of negative 1 percent."

Amazon will pay $0 in federal income taxes for the second year in a row

 

[Jezman]

Ok how much do they pay for all there employees each week in payroll tax. I know all you guys and girls know your employer matches your tax contributions dollar for dollar. I am not sticking up but just getting one half the story always lopsides the story. Believe none of what you read. We would all be better off if we remembered this.

 

[holdover]

Wouldn't the employees being paying the payroll tax as income tax?

 

[E the massive]

Politicians pull the same shit for decades.

 

[Phauxtoe]

yes Amazon does pay taxes, Just NO INCOME TAX!

 

[Blimey]

Just announced: amazon has decided NOT to do NYC. Heard on news.

 

[SomeSoldier]

This doesn't really hurts US per say because if they did have to pay that tax it would just get passed down to us by way of increases in prices of goods and services.

 

[Darth]

Taxation is theft.

 

[Mk44]

Amazon said FUAC.. kidding
Amazon is no longer going to build in NYC
https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=2&cad=rja&uact=8&ved=2ahUKEwicrIOu4LvgAhUNMt8KHT-MBVkQ0PADMAF6BAgAEAk&url=https://abc7ny.com/politics/amazon-cancels-plans-to-build-headquarters-in-nyc/5138596/&usg=AOvVaw33A8DAqZTwIRhcxf1KxaY_

 

[Marine Cpl]

The tax wouldn't get passed down to us if they got breaks. It's the same as if they never came here. The reason to not tax them is so that that they can set up shop here and employ thousands of people who will pay NYS taxes here and spend their money here in real estate and in other purchases.

Basically, the more people employed here, the more shit they buy here and pay taxes on the shit they buy here and the more other businesses get because those thousands of people are buying shit.

 

[Gonzobird]

Just announced: amazon has decided NOT to do NYC. Heard on news.

Amazon said FUAC.. kidding
Amazon is no longer going to build in NYC
https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=2&cad=rja&uact=8&ved=2ahUKEwicrIOu4LvgAhUNMt8KHT-MBVkQ0PADMAF6BAgAEAk&url=https://abc7ny.com/politics/amazon-cancels-plans-to-build-headquarters-in-nyc/5138596/&usg=AOvVaw33A8DAqZTwIRhcxf1KxaY_

Oh man this just made my day!

FUAC!!!!!!!

 

[SomeSoldier]

The tax wouldn't get passed down to us if they got breaks. It's the same as if they never came here. The reason to not tax them is so that that they can set up shop here and employ thousands of people who will pay NYS taxes here and spend their money here in real estate and in other purchases.

Basically, the more people employed here, the more shit they buy here and pay taxes on the shit they buy here and the more other businesses get because those thousands of people are buying shit.

I am referring to their federal taxes they didn't pay.

 

[spat]

This doesn't really hurts US per say because if they did have to pay that tax it would just get passed down to us by way of increases in prices of goods and services.

All taxes are always paid by the consumer.