By: Economic & Finance Report
Amazon has done it again for another year, they will not have to pay a single dime for the 2018 federal tax year. Amazon netted over 11 billion dollars in 2018, and none of those revenues will have to be paid for 2018 federal tax filings.
This is the second year in a row that Amazon will not have to pay federal income tax. The tax credits that Amazon accumulates allows them not to pay federal taxes. The deductions and the tax credits that Amazon collects; allows them to legally avoid having to pay federal taxes, analysts have indicated.
The recent TCJA (Tax Cuts & Jobs Act) passed by the US Congress in 2017, has helped large corporations in attaining tax credits and federal deductions for their companies and has allowed greater revenues for their businesses. Across the board the TCJA is major factor that has assisted Amazon in bolstering their end of the year profits tremendously, hence allowing them to avoid paying any federal income tax. -SB