How FedEx cut its tax bill to $0 – By Ken Martin (FOX Business) / Nov 18 2019
FedEx profits fall after cutting ties with Amazon
President Trump’s tax overhaul has helped out businesses in a major way.
FedEx owed more than $1.5 billion in taxes in its 2017 fiscal year before the tax cut and owned nothing in the following year following the tax cut, according to the New York Times.
FedEx’s founder and chief executive, Frederick Smith lobbied big time for the tax plan, even presenting a proposal of FedEx’s own.
Trump signed into law the $1.5 trillion tax cut that became his signature legislative achievement.
That move changed FedEx’s tax rate from 34 percent to less than zero.
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