The fine print of Amazon’s income tax disclosure shows that this achievement is partly due to various unspecified ‘tax credits’ as well as a tax break for executive stock options,
Amazon is not alone. Many other Tech companies avoid Tax
The corporate bonuses come after the Tax Cuts and Jobs Act,
which sharply cut federal corporate tax rates and expanded others.
More than any company I have ever seen they have built their company around tax avoidance.
One central idea of the tax cuts was to cut corporate tax rates from 35% to 21% but as the tax filings come in
it is becoming increasingly clear that many companies
are not even paying the lower rate,
You can’t lay the blame too much on Congress,
It wasn’t Congress that came up with these ideas.
They are the product of a lobbying blitz
from these companies.
These companies wrote the law in many cases.
Time to take a look at how those companies avoid tax and yet the ordinary small family business maintain the cost of having a modern society.