Here's How Much Money Amazon Saved From Trump's Tax Cuts
Amazon (NASDAQ: AMZN) has a long history of using the tax laws to its advantage.
The e-commerce giant didn't collect sales tax for years, giving it an edge over brick-and-mortar retailers. Later, when the company became larger and started collecting sales tax, it reversed its position to try to stop smaller e-commerce companies from having that same advantage. For years, it has used the promise of a new fulfillment center to obtain tax breaks from state and local communities, and in 2018, it held a contest to host its second headquarters, pitting cities against one another in a shameless display of solicitation for tax breaks and giveaways.
The company, which is now worth close to $2 trillion and one of the most valuable in the world, paid no federal income taxes in 2017 or 2018. It took advantage of benefits for things like stock-based compensation and accelerated depreciation, many of which were enhanced by the Tax Cuts and Jobs Act that was passed at the end of 2017 under the Trump administration.
Source Fool.com
