Amazon Paid No Federal Income Tax On $11.2 Billion Profit
INTEL REPORT--Amazon, doubling its profit in 2018 to $11.2 billion, will pay no 2018 federal income tax. This isn't the first year the e-commerce giant escaped federal income taxes, Amazon didn't pay federal tax in 2017 on $5.6 billion in profit.
Congress cut the statutory corporate tax rate from 35 percent to 21 percent through its 2017 Tax Cuts and Jobs Act to incentivize better corporate citizenship. While Amazon wants to be America's most "consumer concentric" company, Americans paying their fair tax share this year may not agree.
Amazon is no stranger to ethics and business practice criticism. Amazon is under fire for disproportionately low wages, copyright piracy, trademark infringement and counterfeit product sales, data leaks, fake product reviews, employee bribes and fraudulent sales schemes and scams. A trade group has recommended Amazon be added the U.S. Govt. Notorious Markets List.
Is Amazon really the right model to be showcased as an American success story?
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-cw
