Latest / Seattle News Today | 2 Min News | The Daily News Now!
Microsoft Pays Less Than 3% in U.S. Taxes | Seattle News
Microsoft just pocketed the largest corporate tax break in U.S. history—$18.7 billion—thanks to loopholes and credits in the recent tax cut bill, despite raking in $101 billion in U.S. profits. The tech giant is now paying just 2.4% in taxes, less than half the advertised rate, and even pays more in taxes to Ireland than to the U.S. federal government. Big names like Alphabet and Amazon are also reaping billions in tax breaks, with Amazon’s effective rate at a mere 1.4%. As the national debt hits $40 trillion and interest alone costs $1 trillion annually, corporate tax revenue has plummeted…
The skinny
The skinny isn't ready yet — notes appear once the transcript is processed.