Re:NYC Open Letter to Jeff Bezos
by gimmeThaBeet on Friday March 01, 2019 @10:49AM
(#19281698)
Their financial statements show they provisioned $1.2 B in income taxes worldwide for 2018, I suppose from that narrow perspective you have to define 'plenty'. Their effective tax rate seems like it's in the 10% range?
I think it'd be difficult to measure their employee tax footprint, I haven't been able to find good numbers on that, a Fermi estimate makes their numbers seem plausible if they went according to plan.
https://ir.aboutamazon.com/static-files/ce3b13a9-4bf1-4388-8...
Re:NYC Open Letter to Jeff Bezos
by credit_guy on Friday March 01, 2019 @05:00PM
(#19285732)
Not the OP, but here's a Bloomberg article about this [1]. It has a bit of an incendiary tone. Later Bloomberg published an editorial [2] explaining that actually there's nothing scandalous about the zero federal tax rate; it is due to a difference between tax accounting and GAAP accounting. For tax purposes deferred equity compensation is considered to be out-the-door the moment it is granted, for GAAP purposes it's out-the-door the moment it vests.
[1] https://www.bloomberg.com/news/articles/2019-02-22/tax-law-d...
[2]https://www.bloomberg.com/opinion/articles/2019-02-26/amazon...
Edit: clarification, since it seems my question as misinterpreted. Is there a citation for the $0 in federal income tax?