ML-Implode News - Amazon Not Paying Federal Income Taxes on $11.2 Billion Profits -- Trump Tax Cuts Largely to Thank

This tax-free break comes even though Amazon almost doubled its U.S. profits from $5.6 billion to $11.2 billion between 2017 and 2018. To top it off, Amazon actually reported a $129 million 2018 federal income tax rebate--making its tax rate -1%.
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ITEP notes that its non-existent federal tax payment is a result of the Trump Administration's corporation-friendly tax cuts. The think tank writes that the 2017 Tax Cuts and Jobs Act not only decreased corporate tax rates from 35% to 21%, but it also didn't close "a slew of tax loopholes that allow profitable companies to routinely avoid paying federal and state income taxes on almost half of their profits."

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Amazon Not Paying Federal Income Taxes on $11.2 Billion Profits -- Trump Tax Cuts Largely to Thank