Amazon Reports 87% Decline In Federal Taxes

In 2024 Amazon's federal income tax bill fell 87%, dropping from about $13.9 billion in 2023 to roughly $1.8 billion, per reporting first highlighted by Slashdot. The decline is attributed to R&D tax credits, accelerated depreciation, stock-based compensation deductions and approximately $75 billion in capital expenditures, underscoring how tax provisions can sharply lower effective corporate tax rates. The disclosure intensifies debate over corporate tax reform.