Amazon will pay $0 in taxes on $11,200,000,000 in profit for 2018

Feb 2011
18,182
12,900
The formerly great golden state
#1
Jul 2014
38,734
10,304
midwest
#2
General Electric got away with paying zero in federal taxes several years ago on Billions in profits.

Allegedly.

Hundreds of tax lawyers did their job...
 
Feb 2010
34,671
24,626
between Moon and NYC
#7
Sep 2014
5,063
1,574
South FL
#8
One thing that corporations can do is to carryover net operating losses. Doing a quick google on that and I see this for historical net income for Amazon:


2018$10,0732017$3,0332016$2,3712015$5962014$-2412013$2742012$-392011$6312010$1,1522009$9022008$6452007$4762006$1902005$359

So, I'm not really seeing anything close to $15bn in losses which would offset their tax liability.

One thing that this likely illuminates though is that accelerated depreciation is pretty sketchy and we can see that right on their 10-K report where Amazon writes:

"We have tax benefits relating to excess stock-based compensation deductions and accelerated depreciation deductions that are being utilized to reduce our U.S. taxable income. The U.S. Tax Act enhanced and extended the option to claim accelerated depreciation deductions by allowing full expensing of qualified property, primarily equipment, through 2022. "

"our federal net operating loss carryforward was approximately $627 million and we had approximately $1.4 billion of federal tax credits potentially available to offset future tax liabilities. Our federal tax credits are primarily related to the U.S. federal research and development credit. As we utilize our federal net operating losses and tax credits we expect cash paid for taxes to increase. "