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

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

news-today.world | 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.

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