Amazon.com

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Amazon.com, founded by liberal Jeff Bezos is the United States' largest online retailer.[1] After being founded in 1995, the company did not make its first quarterly profit until 2001.[1] If individuals make purchases from Amazon Smile, the company donates a portion of the sale to a charity of the buyer's choice, such as International Christian Concern.[2]

In 1996, it was reincorporated in Delaware. Amazon issued its initial public offering of stock on May 15, 1997, trading under the NASDAQ stock exchange symbol AMZN, at a price of $18.00 per share ($1.50 after three stock splits in the late 1990s). It has grown to be the retail company with the largest market capitalization in the United States, while destroying thousands of community retail stores in the process.

The company has expanded from reselling goods to designing and manufacturing electronics. It started with the Amazon Kindle e-book reader in 2007 and has grown to include multifunctional Amazon Fire tablets, Fire TV and Fire Phone brand smartphones. Amazon is also a major provider of cloud computing services.

In 2010, Amazon invested $175 million in LivingSocial, a local deal/coupon site.[3] In 2013, Amazon launched the "Amazon Prime" paid membership service which provides free shipping to its members as well as free online access to movies and archived television programs. In 2014, Amazon announced that it would be partnering with Twitter, an agreement that allows individuals to make purchases using a hashtag.[4] Also in 2014, Amazon acquired the right to administer the .buy top level domain in an auction for $4,588,888[5][6]

Sales and use taxes

Many states and local governments collect sales and use taxes. A sales tax is paid by the buyer when goods are services are purchased and collected by the seller, who turns the taxes over to the state at the end of each month. A use tax is paid by the buyer at the end of the year when the seller is located out-of-state and not collected at the time of sale. In Amazon's early years, it refused to collect sales taxes in states where it was not physically present. Because many people fail to pay use taxes, local merchants complained that on-line retailers had a competitive advantage because they were not collecting sales taxes. Amazon now has a physical presence (in the form of warehouses, server farms or offices) in most states, and has built an nationwide database to compute the correct sales tax based on the location of the on-line buyer. This give it a competitive advantage over other on-line retailers. Amazon lobbies to force all on-line retailers to collect state and local sales taxes.[7]

In response, on June 28, 2017, President Donald Trump tweeted:

Amazontaxes.jpg


People are arguing whether he meant that the reports of Amazon not paying taxes is "fake news" or whether the Amazon company itself is fake news. Amazon and the Washington Post have different ownership. [8] [9]

Liberal politics

Amazon.com was founded by Jeff Bezos, who also owns The Washington Post.

It was reported in September 2017 that Amazon had deleted numerous one-star reviews of Hillary Clinton's book What Happened.[10]

See also

References

  1. 1.0 1.1 Saul Hansell (Jan 23 2002). TECHNOLOGY; A Surprise From Amazon: Its First Profit (English). New York Times. New York Times Co.. Retrieved on Apr 26 2009.
  2. Holiday, Ryan (30 September 2014). Growth Hacker Marketing: A Primer on the Future of PR, Marketing, and Advertising. Penguin Group US. ISBN 9780698176911. Retrieved on 31 October 2014. “You can set up a special subdomain on your e-commerce site where a percentage of every purchase users make goes to a charity of their choice (which is what Amazon did with Smile.Amazon.com this year to great success, proving that even a successful company can find little growth hacks).” 
  3. Isaac, Mike. "LivingSocial Receives $175 Million Investment From Amazon", Forbes, December 2, 2010. Retrieved on February 6, 2014. 
  4. Twitter And Amazon Join Forces (15 May 2014). Retrieved on 31 October 2014. “In a recent announcement Amazon made it’s affiliation with Twitter public. It will allow it’s users to buy products using a hashtag. The service is already available in the US and United Kingdom.”
  5. Domainnamewire.com. Wow: Amazon.com buys .Buy for $4.6 million, .Tech sells for $6.8 million.
  6. Uttamujjwal.com. .Buy Domain Sold to Amazon.com for $4,588,888.
  7. "Trump's misfired tweet about Amazon sales taxes", CBS Moneywatch, June 29, 2017. Retrieved on June 30, 2017. 
  8. http://www.foxbusiness.com/markets/2017/06/28/trump-attacks-washington-post-amazon-over-internet-taxes.html
  9. http://www.foxnews.com/tech/2017/06/28/president-trump-attacks-amazon-on-twitter-says-it-doesnt-pay-internet-taxes.html
  10. Richardson, Bradford (September 13, 2017). One-star reviews of Hillary Clinton’s ‘What Happened’ disappear on Amazon. The Washington Times. Retrieved September 19, 2017.

External links