• Oops!
    Something went wrong.
    Please try again later.

Nike says it's paid over $9 billion in taxes since 2016

·1 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.

As the Biden administration floats the likelihood of higher corporate taxes, big companies like Nike (NKE) have come under fire from a number of politicians — including Sen. Bernie Sanders — for not paying their fair share.

In a statement given to Yahoo Finance, the Swoosh brand says it pays federal, state, and local taxes.

“NIKE, Inc. is a global business with 73,000 employees and we comply with tax laws everywhere we do business. NIKE is paying significant U.S. federal, state, and local direct and indirect taxes every year. In fact, including customs duties, Nike has paid more than $9.1 billion in U.S. taxes since 2016," the statement read.

The statement went to cite the its tax obligations and contributions: "NIKE’s tax obligations in the U.S. are based on several factors, including the investments made in the U.S., which fuel growth around the world, and changes in tax law resulting from the Tax Cuts and Jobs Act of 2017. NIKE is paying $1.1 billion in transition taxes through 2025 imposed by the Tax Cuts and Jobs Act of 2017. To date, NIKE has paid nearly $300 million of those transition taxes.”

On April 2, Sanders called out Nike for allegedly paying $0 in federal taxes for three years. 

This content is not available due to your privacy preferences.
Update your settings here to see it.

Reggie Wade is a writer for Yahoo Finance. Follow him on Twitter at @ReggieWade.

Read more:

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting