Seattle Approves Tax of $275 Per Employee Per Year on Rich Companies Including Amazon

After a threat by the world’s richest man that he might reconsider investing in Seattle, a divided city council came together this week and unanimously approved a new tax on high-grossing corporations — but at about half the amount originally proposed.

An Amazon logo is seen inside the Amazon corporate headquarters on June 16, 2017, in Seattle. (Credit: David Ryder/Getty Images)

An Amazon logo is seen inside the Amazon corporate headquarters on June 16, 2017, in Seattle. (Credit: David Ryder/Getty Images)

Both sides — the city, personified by socialist Councilmember Kshama Sawant, and the corporations, represented by Jeff Bezos, the multibillionaire founder of retail giant Amazon — could claim some measure of victory in the reduced tax.

A council chamber packed mostly with rowdy, shouting supporters of the tax erupted in cheers and sign waving Monday once the 9-0 vote was recorded.

The result is a new tax of $275 per employee per year on companies grossing at least $20 million per year. It replaces what had been a proposed $500-per-head tax.

Read the full story on LATimes.com.