Amazon posts earnings report

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.

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State 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.

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