In Reply to: How low can you go? posted by mh on February 06, 2026 at 13:50:32
Amazon's report to the Securities and Exchange Commission on Friday shows the company benefited bigly from the tax law President Donald Trump signed into law last summer.
The company helmed by billionaire Jeff Bezos revealed it owed $1.2 billion in taxes last fiscal year, compared to around $9 billion from the year prior. That's despite profits jumping by 45% last year.
Amazon released a lengthy statement Friday acknowledging the change.
"[L]ast year Congress made changes to the tax code to encourage greater investment in the American economy, its innovation, and its workers — all areas where Amazon has long been a leader," the company statement said. "Due to Amazon's unprecedented U.S. investments, our tax bill this year reflects those changes by Congress."
The report comes a day after Bezos oversaw massive layoffs at The Washington Post, which he's owned since 2013, with hundreds of positions and entire sections eliminated from the legacy newspaper.