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You can see The Review Index's product review rating on this page.Abigail Abesamis Demarest
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You can see The Review Index's product review rating on this page.Abigail Abesamis Demarest
Of course, $162 million is still just a fraction of the $13.9 billion in pre-tax income Amazon reported for 2019 - roughly 1.2%, in fact. The federal corporate tax rate is 21%, but as in the past, Amazon likely employed various tax credits and deductions to reduce its federal tax bill. Amazon also reported $280.5 billion in total revenue in 2019.
Gardner also argues that, despite Amazon reporting its first positive federal income tax bill since 2016, the company was still on the hook for a small fraction of the corporate tax rate in 2019. "The clear fact remains that the federal income tax system still can hardly lay a glove on one of the biggest and most profitable corporations in the world," Gardner writes in his blog post.
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This article originally appeared on JustBusiness, a subsidiary of NerdWallet.
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