Amazon's Tax Bill Plunges 87% After Tax Cuts

Source: Slashdot

Summary

An anonymous reader shares a report: Republicans’ tax cuts shaved billions off Amazon’s tax bill, new government filings show. The company says it ran a $1.2 billion tax bill last year, down from $9 billion the previous year, and even as its profits jumped by 45 % to nearly $90 billion.

That’s largely because of the generous new depreciation breaks GOP lawmakers included in their One Big Beautiful Bill, something that’s particularly important to Amazon which — in addition to maintaining a vast infrastructure for its ubiquitous delivery business — has been spending billions to build out artificial‑intelligence data centers.

Also helping, though less important: the law’s expanded breaks for businesses’ research and development expenses. The company has long been criticized by Democrats for paying little in tax, and it appeared to be bracing for criticism in the wake of the report to the Securities and Exchange Commission.