In fact, Amazon is actually getting a federal tax refund of $129 million this year, due in part to a combination of tax credits and deductions. This is despite the fact that Amazon nearly doubled its taxable income in 2018 to $11.2 billion, from $5.6 billion a year earlier.
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The fact that the new tax law, which was strongly backed by President Donald Trump and his administration, has helped Amazon and other companies lower their federal tax obligation is somewhat ironic considering that the president has railed against Amazon, in particular, for paying "little or no taxes to state and local governments."
Amazon famously went on the hunt for tax incentives in last year's search for sites for the massive company's second headquarters, or "HQ2," which initially led the company to announce plans to open large, new corporate locations in New York City and Virginia. However, Amazon this week canceled its plans for HQ2 in New York City due to local opposition.
Valedictorian Jeff Bezos said he wanted to build 'space hotels and colonies' in his 1982 high school graduation speech
Jeff Bezos donated $33 million to pay 'dreamers'' tuition
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