After the Tax Cuts and Jobs Act (TCJA) of 2017 Amazon is paying less to the tax base at a rate of 1.2%. According to the Government Accountability Office (GAO), as of the end of fiscal year 2018, the federal debt is $21 Trillion and rising.
Last year, Yahoo Finance reported that Amazon (AMZN) paid a shockingly low amount in federal income taxes in 2018 on more than $11 billion in profits: $0.
But this year, while the company says it has paid “billions” in taxes for the year 2019, in reality it only paid $162 million in federal income tax — an effective tax rate of 1.2% on over $13 billion in profits.
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