Amazon will not pay any federal income taxes for the second year in a row, according to a report released Wednesday
The Institute on Taxation and Economic Policy found that the online retailer, which reported $11.2 billion in profits in 2018, did not pay income tax because of unnamed “tax credits” in their disclosure.
The company will reportedly receive a $129 million federal income tax rebate, effectively making their tax rate -1 percent.
The company also reportedly paid zero federal income taxes for 2017, when it made $5.6 billion in U.S. income.
Read more at The Hill.