Institute on Taxation and Economic Policy

State Corporate Tax Rates Decline 33% Over Three Decades - ALEC's Interstate Race-to-Bottom Costs States $43-57 Billion Annually in Lost Revenue

2019-01-01 00:00:00 +0000 UTC | Importance: 8/10

By 2019, research documented the cumulative impact of ALEC’s systematic corporate tax-cutting campaign: the effective state and local tax rate on corporate profits had declined from 5.9% in 1989 to 3.9% in 2019—a 33% reduction representing the successful culmination of three decades of …

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Amazon Pays Zero Federal Income Tax Again on $11.2 Billion Profit—Receives $129 Million Tax Rebate

2018-01-01 00:00:00 +0000 UTC | Importance: 9/10

Amazon paid zero federal income tax for the second consecutive year despite nearly doubling its U.S. profits to $11.2 billion in 2018. Beyond avoiding all federal taxes, Amazon actually received a $129 million tax rebate from the federal government—yielding a negative 1% effective tax rate. This …

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