Re:Facebook is a monopoly that buys, copies, kills competito...
by bhupy on Friday October 09, 2020 @11:43AM
(#24731014)
It's also misleading to look purely at the taxes paid on corporate profits. That's not the only way that corporations are taxed.
In 2019 Amazon paid $2.4b in federal payroll taxes and customs duties and $1.6b in state and local taxes. So they actually handed to federal and state tax authorities over $4b of their $13.9b reported pre tax revenue, while also collecting $9b in sales taxes on their behalf.
Also, Amazon as a corporation is largely just comprised of its executives and employees and shareholders, and they all pay taxes on their income and realized capital gains (if any).
In 2019 Amazon paid $2.4b in federal payroll taxes and customs duties and $1.6b in state and local taxes. So they actually handed to federal and state tax authorities over $4b of their $13.9b reported pre tax revenue, while also collecting $9b in sales taxes on their behalf.
Also, Amazon as a corporation is largely just comprised of its executives and employees and shareholders, and they all pay taxes on their income and realized capital gains (if any).