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💸 In 2020 Nike made a profit of close to $3 billion, yet they paid $0 in federal tax. What? Nike has been ducking and weaving around tax laws in order to keep as much of their profit as possible, and between 2018 and 2020, didn’t pay a single dollar. In fact, they received close to $750 million in tax rebates! This is how Nike, thanks to a tiny island in the Atlantic, pays almost no taxes.

🎬 In this video, we will cover:
0:00 - Intro
0:36 - Nike’s game of Dodgeball
5:04 - Offshoring
7:18 - Sponsor
8:41 - Race to the Bottom

📚 Sources:

[1] Nike has paid no federal income taxes for the past three years
https://www.wweek.com/news/business/2...

[2] Apple & Nike avoid new tax on stock buybacks by speeding them up
https://news.bloombergtax.com/daily-t...

[3] No federal taxes for dozens of big profitable companies
https://www.nytimes.com/2021/04/02/bu...

[4] Nike doesn't dispute it paid 0 in federal income tax
https://itep.org/nikes-tax-avoidance-...

[5] How companies like amazon nike and fedex avoid paying federal taxes
https://www.cnbc.com/2022/04/14/how-c...

[6] EU Attempting to Close Tax Loopholes
https://eur-lex.europa.eu/legal-conte...

[7] The Anti Tax Avoidance Directive
https://taxation-customs.ec.europa.eu...

[8] Ireland Tax Rate - 12%
https://www.revenue.ie/en/companies-a...

[9] US Corporate Tax Rate - 21% in the lowest state, some are as high as 30%
https://taxfoundation.org/data/all/st...

[10] What is a Tax Rebate?
https://www.investopedia.com/terms/t/...

[11] Nike Investor Profits
https://investors.nike.com/investors/...

[12] Nike Gross Profit
https://www.macrotrends.net/stocks/ch...

[13] Nike Swoosh
https://finance.yahoo.com/news/dutch-...

[14] Tax Credit: What is it, How it Works
https://www.investopedia.com/terms/t/...

[15] Nike shifted billions in profits from Europe to tax-free Bermuda, Paradise Papers leak shows
https://www.cbc.ca/news/business/nike...

[16] Explaining the Trump Tax Reform Plan
https://www.investopedia.com/taxes/tr...

[17] Cares Act
https://en.wikipedia.org/wiki/CARES_Act

[18] Biden Won a Global Tax Rate, Now Americans wonder if it was a good idea.
https://www.washingtonpost.com/busine...

[19] A race to the bottom - Companies attracting foreign companies
https://policy-practice.oxfam.org/res...

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