(Federal tax laws companies to delay tax payments on certain income, including some foreign earnings and long-term investments in items such as equipment or machinery.)Īmazon also reported $276 million in state tax payments in 2019, as well as an international tax bill of more than $1.1 billion, according to Thursday's SEC filing. However, that total includes the $162 million federal tax bill, as well as another $914 million federal tax bill that the company says has been deferred until a later date. In a blog post on Thursday, Amazon touted the fact that the company had "over $1 billion in federal income tax expense" in 2019. In February 2019, Senator Bernie Sanders pointed out in a tweet that any one of the company's roughly 150 million Amazon Prime members would have paid more for that program's annual fee ($119) than Amazon paid in federal taxes for 2018 or 2017. President Donald Trump is a frequent critic of Amazon for paying "little or no taxes to state and local governments," though the Trump Administration's 2017 Tax Cuts and Jobs Act helped to lower the statutory corporate tax rate.
That was a year after Amazon received a $137 million refund from the federal government for 2017. In fact, thanks to tax credits and deductions, Amazon actually received a federal tax refund of $129 million.
In 2018, Amazon posted income of more than $11 billion, but the company paid $0 in federal taxes.
The company also came under fire for seeking huge tax incentives worth billions of dollars as part of its search for a second headquarters, or "HQ2," in 2018. Amazon also reported $280.5 billion in total revenue in 2019.Īmazon has been the subject of much criticism over the fact that the company's final federal tax burden has been particularly lacking in recent years. The federal corporate tax rate is 21%, but as in the past, Amazon likely employed various tax credits and deductions to reduce its federal tax bill. Of course, $162 million is still just a fraction of the $13.9 billion in pre-tax income Amazon reported for 2019 - roughly 1.2%, in fact. federal income tax, Amazon was on the hook for a $162 million bill in 2019, the company said in an SEC filing on Thursday. After two straight years of paying $0 in U.S. That's because Amazon actually owed money to the federal government in 2019.
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