Amazon released its quarterly earnings report today: worldwide net sales increased 26% to $75.5 billion, but operating income decreased about 10% to $4 billion, and net income decreased 30% to $2.5 billion. Back in February I wrote an article looking at what Amazon actually pays in income taxes, and delving a bit into the fundamentals of its business. With new numbers and an active effort in Seattle to impose a payroll tax on the company, let’s update those numbers.
Continue readingTag: income tax
Supreme Court declines to hear income tax appeal
This morning the Washington State Supreme Court declined to hear an appeal of a lower court ruling on Seattle’s progressive income tax ordinance.
Continue readingUnderstanding Amazon’s income tax bill
It’s become a common meme in political circles to claim that Amazon pays nothing, or next to nothing, in income taxes. But is it true? Let’s dig in.
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Your weekend reading
There are a number of reports and documents that have been published in the last couple of weeks and are worth paying attention to. So curl up in front of the fire, break out your reading glasses, and dig in.
Continue readingCity appeals income tax ruling to state Supreme Court
As expected, yesterday the City of Seattle filed an appeal with the Washington State Supreme Court of the recent appeals court ruling on its income tax ordinance.
Continue readingIncome tax lawsuit concludes at the appeals court; on to the state Supreme Court
This afternoon the state Court of Appeals wrapped up its chapter of the legal challenge to Seattle’s income tax, rejecting a request to reconsider its July ruling. That clears the way for the case to move on to the state Supreme Court.
Continue readingFerguson urged by legislator to defend statewide ban on taxing net income
Today Washington State Senator Steve O’Ban sent a letter to Attorney General Bob Ferguson urging him to defend the state law prohibiting taxes on net income, after a Court of Appeals invalidated the law on Monday.
Continue readingState appeals court rules against Seattle income tax, but makes things more complicated
Today the state Court of Appeals released a decision in the appeal of the City of Seattle’s income tax. While it ultimately agreed with the King County Superior Court judge that the income tax is prohibited, it did so on a completely different basis — one that makes an appeal to the state Supreme Court inevitable but messier. Pour yourself a stiff drink; you’re going to need it.
Continue readingSeattle has a rough day in court defending its income tax
The City of Seattle had a key hearing in front of the state Court of Appeals today as it tries to rescue its income tax ordinance, and it didn’t go well.
Continue readingState Supreme Court declines to hear income tax case, sends it to Court of Appeals
Today the Washington State Supreme Court denied a request by the City of Seattle to hear its appeal of a legal challenge to the city’s income tax ordinance, instead redirecting it to the Court of Appeals for further proceedings.
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