You Will Never Guess How Much Amazon Paid in 2017 Taxes You Will Never Guess How Much Amazon Paid in 2017 Taxes – NTK Network

You Will Never Guess How Much Amazon Paid in 2017 Taxes

Amazon's owner Jeff Bezos (who's the richest man in the world) has been attempting to avoid paying taxes since he founded the online retailer giant.

By NTK Staff | 02.27.2018 @8:49am
You Will Never Guess How Much Amazon Paid in 2017 Taxes

Online retailer giant Amazon reportedly earned $5.6 billion in U.S. profits in 2017 and paid zero (yes, zero) dollars in taxes on those earnings.

Splinter News explained how this was both legal and possible:

“Amazon’s global headquarters is not in Seattle, but in the tiny landlocked nation of Luxembourg (Amazon employs more than 40,000 people in Seattle, compared to 1,500 people in Luxembourg.). The European Union has accused Luxembourg of giving illegal tax breaks to Amazon and has ordered the country to recover $295 million in back taxes from Amazon.”

“As Matthew Gardner at the Institute on Taxation and Economic Policy writes, Amazon was able to effectively zero out its federal income tax burden by leveraging various tax benefits.”

Amazon not paying a single cent in income tax in 2017 is exceptionally hypocritical considering the online retailer has started handing over important third-party merchant information to state tax offices.

This decision by Amazon could lead to consumers being taxed for online purchases from businesses with no physical presence in their state.

A recent poll conducted by Rasmussen found that 66 percent “of respondents said they opposed a sales tax on items purchased online, even if the store is not located in their state.”

Amazon’s owner Jeff Bezos (who’s the richest man in the world) has been attempting to avoid paying taxes since he proposed building Amazon’s U.S. headquarters “on a Native American reservation near San Francisco” in 1995.

Now it would appear that Bezos is hoping to avoid even more taxes by having cities compete for a new headquarters for Amazon somewhere in the U.S.

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