Report shows Amazon may have paid no tax

The Institute on Taxation and Economic Policy said in a report e-commerce giant Amazon did not pay US federal income taxes in 2018. Amazon’s effective tax rate was a negative 1.2 percent on its pretax 2018 profit of $10.8 billion. “The company’s newest corporate filing reveals that, far from paying the statutory 21 percent income tax rate on its US income in 2018, Amazon reported a federal income tax rebate of $129 million,” the report said.