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ehrenfest
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I've noticed that there is never any tax on anything I buy from Amazon. How is this possible?
ehrenfest said:I've noticed that there is never any tax on anything I buy from Amazon. How is this possible?
ehrenfest said:So, how come I had to pay sales tax when I ordered something on barnes and nobles website? Does that mean they are headquartered in the state where I shipped the item? Or is it because they have stores in that state?
ehrenfest said:So, how come I had to pay sales tax when I ordered something on barnes and nobles website? Does that mean they are headquartered in the state where I shipped the item? Or is it because they have stores in that state?
Amazon avoids paying taxes through various legal techniques such as tax credits, deductions, and exemptions. They also utilize tax havens, which are countries with lower tax rates, to shift profits and avoid higher tax rates in other countries.
No, Amazon is not breaking the law by avoiding taxes. They are utilizing legal techniques and strategies to minimize their tax burden.
Amazon's tax payments vary each year, but they paid $162 million in federal income taxes in 2019 on over $13 billion in profits. However, they also received a tax rebate of $129 million, resulting in a net tax payment of only $33 million.
Amazon, like many other large corporations, avoids paying taxes to increase their profits and shareholder value. By minimizing their tax burden, they can allocate more resources towards growth and expansion.
No, Amazon is not the only company that avoids taxes. Many other corporations, especially in the technology and retail sectors, also utilize similar tax avoidance strategies to minimize their tax payments.