{"id":710448,"date":"2020-01-31T13:05:00","date_gmt":"2020-01-31T18:05:00","guid":{"rendered":"https:\/\/www.prime-wow.com\/?p=710448"},"modified":"2020-01-31T13:05:00","modified_gmt":"2020-01-31T18:05:00","slug":"amazon-reveals-new-details-about-its-federal-tax-bill-in-shot-across-the-bow-at-critics","status":"publish","type":"post","link":"https:\/\/www.prime-wow.com\/?p=710448","title":{"rendered":"Amazon Reveals New Details About Its Federal Tax Bill in Shot Across the Bow at Critics"},"content":{"rendered":"

Amazon disclosed new details about its U.S. taxes for 2019 in public financial documents and a blog post Friday morning, saying its federal income tax expense for the year was more than $1 billion, in addition to more than $2 billion in other types of federal taxes. From a report: The disclosures appear designed to push back against assertions from politicians and researchers that Amazon does not pay any federal income tax. However, the federal income tax is still a small fraction of the company’s profits, representing about 6 percent of the $14.5 billion in operating income that Amazon reported Thursday in its year-end financial report. “Like most governments that try to encourage economic investment by companies, the U.S. Congress has written a tax code that incentivizes the type of job creation, capital investment, development of technology, and employee ownership that Amazon does because these are critical drivers of a prosperous economy,” the company says in its post. “We follow all applicable federal and state tax laws, and our U.S. taxes are a reflection of our continued investments, compensation of our employees, and the current tax rules.” <\/p>\n

Federal tax laws also allow the company to delay payment of the bill. According to regulatory filings, Amazon will pay $162 million in federal income taxes for 2019 now, and an additional $900 million over time due to deferrals for which the company is eligible. That adds up to the $1 billion federal income tax expense Amazon says it’s on the hook for in 2019. Amazon will pay an additional $2.4 billion in other federal taxes, like payroll and custom duties, the company said, and $1.6 billion to state and local governments for the year. In addition, Amazon paid $9 billion in sales and duty taxes last year, the company said.<\/p>\n

\n

\n<\/a>
\n<\/a><\/p>\n

\"Share<\/a><\/p>\n<\/div>\n

Read more of this story<\/a> at Slashdot.<\/p>\n

\"\"
\n
\nSource: Slashdot – Amazon Reveals New Details About Its Federal Tax Bill in Shot Across the Bow at Critics<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Amazon disclosed new details about its U.S. taxes for 2019 in public financial documents and a blog post Friday morning, saying its federal income tax expense for the year was more than $1 billion, in addition to more than $2 … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":710449,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"ngg_post_thumbnail":0,"footnotes":""},"categories":[101,110],"tags":[100],"class_list":["post-710448","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-slashdot","category-unfiltered-rss","tag-slashdot"],"_links":{"self":[{"href":"https:\/\/www.prime-wow.com\/index.php?rest_route=\/wp\/v2\/posts\/710448","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.prime-wow.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.prime-wow.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.prime-wow.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.prime-wow.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=710448"}],"version-history":[{"count":0,"href":"https:\/\/www.prime-wow.com\/index.php?rest_route=\/wp\/v2\/posts\/710448\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.prime-wow.com\/index.php?rest_route=\/wp\/v2\/media\/710449"}],"wp:attachment":[{"href":"https:\/\/www.prime-wow.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=710448"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.prime-wow.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=710448"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.prime-wow.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=710448"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}