Amazon earned $5.6B in 2017, but paid no federal taxes

Yep. But hey, we tax the hell outta businesses ya know? You'd swear by the talking points coming out of the administration.

Jeff Bezos’ sprawling e-commerce giant Amazon reportedly raked in more than $5.6 billion in U.S. profits in 2017, but despite that, the company essentially paid $0 in federal income taxes.

That’s largely attributable to “excess stock-based compensation deductions” and the effect of the 2017 Tax Act, according to the company’s U.S. Securities and Exchange Commission filing earlier this month. In other words, Amazon was able to leverage the tax credits and breaks to zero out taxes it owed this year, according to the Institute on Taxation and Economy Policy (ITEP), a non-partisan think tank.

www.foxbusiness.com...

Oh let's not forget those overseas tax havens.

Although Amazon is headquartered in Seattle, its European headquarters are located in Luxembourg, a country with a population less than 600,000. In mid-December, Luxembourg officials challenged a court order from the European Union, which accused the country of offering special treatment to Amazon and ordered it to recover $295 million in back taxes, according to Reuters.

www.foxbusiness.com...

How many other businesses I wonder? And how's that wealth trickling down I wonder as well? We have a good idea of what the answers will be and how we're being ****ed over and yet, for the sake of ideological sensitivities, many of us continue making excuses. The cycle continues.

a reply to: Southern Guardian

They likely will now, that it's in the open.

I'm willing to bet everything I own that these corporate tax cuts won't affect America positively barely at all in the future. They'll probably last just long enough for the rich to benefit from them before the economy crashes and the working man is left out to dry.... again.

originally posted by: BotheLumberJack
a reply to: Southern Guardian

They likely will now, that it's in the open.

No they won't, this is part of the reason this system is failing, the more money you make the more you can avoid paying taxes, it's only the little people, lower and middle class that pay through their rectums.

It's a little like bank accounts, once you have over the threshold amount you no longer pay fees.

Soon some numpty will explain to us why big business doesn't have to pay and the little guys do because big business provide the jobs for the little guys and without them there would be no jobs and therefor no opportunity.....

originally posted by: 3NL1GHT3N3D1
I'm willing to bet everything I own that these corporate tax cuts won't affect America positively barely at all in the future. They'll probably last just long enough for the rich to benefit from them before the economy crashes and the working man is left out to dry.... again.

It's coming, the only reason we have seen any changes is because big business has been given a tax free incentive to provide more jobs. However when that incentive runs out in 5 years or so watch for the rats to jump ship.

a reply to: hopenotfeariswhatweneed

Then I guess everyone's #'d.

originally posted by: BotheLumberJack
a reply to: hopenotfeariswhatweneed

Then I guess everyone's #'d.

No just our current lifestyle, the system has failed many times yet we humans are still here... Well be fine

originally posted by: hopenotfeariswhatweneed

originally posted by: BotheLumberJack
a reply to: hopenotfeariswhatweneed

Then I guess everyone's #'d.

No just our current lifestyle, the system has failed many times yet we humans are still here... Well be fine

I don't think Humanity has ever been 'fine'. It's a messed up Planet.

a reply to: BotheLumberJack

Fair call, a few of us will survive learn to work together as a means of survival, thrive and then end up right back here at the tipping point, to do it all again... Yay...

General Electric has been getting away with paying 0 taxes for years. This is from an article posted in 2011.

www.weeklystandard.com...

"General Electric, one of the largest corporations in America, filed a whopping 57,000-page federal tax return earlier this year but didn't pay taxes on $14 billion in profits. The return, which was filed electronically, would have been 19 feet high if printed out and stacked."



Amazon is only doing what our corrupt system allows them to get away with.

originally posted by: hopenotfeariswhatweneed
a reply to: BotheLumberJack

Fair call, a few of us will survive learn to work together as a means of survival, thrive and then end up right back here at the tipping point, to do it all again... Yay...

And when we finally verify the entire Globe is a Simulation? It will have all been for nothing.

Mr. Trump’s suggestion that Amazon does not pay taxes is false. The company, in its latest annual report to the Securities and Exchange Commission, said that it paid $177 million in income taxes in 2014, $273 million in 2015 and $412 million last year.

Ut oh, don't look now, but lot of people sound like that Russian puppet

a reply to: Southern Guardian

I found that the majority of CDs I got through amazomb where actually coming from two other companies.
They both sell online so I no longer need to go through the big name. Deal direct.

a reply to: Southern Guardian

It doesn't matter what we pay in taxes. It doesn't matter what corporations pay in taxes. What does matter is the purchasing power of our take home pay. The problem the American worker faces is in a time when productivity is at all time highs, the purchasing power of the dollar is near an all time low.

a reply to: CharlesT

Corporations have no loyalty to the United States or its people.

a reply to: Southern Guardian

Nothing new...

That's why our tax laws are so complicated...those who can afford to do so can hide their money. This is why there will never be a flat tax.

As far as corporations go, the bigger they are, the bigger the tax break they get. I think I remember reading that a few corporations payed $0 tax and got millions in tax refunds. Well done.

"That’s largely attributable to “excess stock-based compensation deductions” and the effect of the 2017 Tax Act, according to the company’s U.S. Securities and Exchange Commission filing earlier this month."


It says it right in the damn article. Amazon is using the law and the tax code to its advantage. Legally.

We live in a free capitalist society.

Be smart. Be innovative. Be competitive. Be Better.

What do opponents of this suggest we do with Amazon? Create additional tax penalties just for Amazon because business their acumen is better than other companies?

If amazon is breaking the tax code its the Feds job to catch them and penalize them.

When Trump tweeted months a go that Amazon wasn't paying the "internet tax" (which doesn't exist) the stock fell.

I don't directly own Amazon stock so don't think I am a shill here but its in Amazon's best interest to color within the tax code lines because it would definitively effect their bottom line.

If we as a society doen't like how they are getting taxed. The tax code needs to be changed.

a reply to: Southern Guardian

People just do not care anymore.

They just care about what they are conditioned to care about.

It is my opinion that we have a gov. agency that deals with such and they should shut down bezos and the gang.

150 billion and the largest retailer and we look away.

shame on you washington

The quickest way to deal with this and most effective is too impose extremely high tax on the host country bezos is using as company headquarters.

We should try that.

Oh that is right bezos get ready.

You are no longer allowed to rape mary.

Amazon pays no taxes because they have accumulated losses greater than recent earned profits. Until they use up those previous losses, they will not have to pay any taxes. Over its lifetime Amazon has made no money, so no taxes.