Step 2: Establish Key Organizational Facts
Originally formed in response to Jeff Bezos’ regret for not capitalizing on the power of the internet sooner, the company that would become Amazon, Inc. was established in 1994 as an internet-based bookseller. Shortly, Bezos changed the name of the organization from Cadabra to Amazon, took the company public in 1995, and expanded the product offerings beyond books to cover several different categories of consumer goods (Capitalism.com, 2020). The company is currently a publicly-held organization traded on the New York Stock Exchange under the stock exchange symbol AMZN. Although Amazon is a for-profit entity, the company has benefited greatly from tax code changes and has paid little to no federal taxes in recent years.
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