GOP Tax Cuts Help CarMax Give Employee Bonuses

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Posted by Andreas Hellmann on Saturday, October 20th, 2018, 2:00 PM PERMALINK

With help from the GOP tax cuts, CarMax Inc. provided special bonuses to associates. Bonuses ranged from $200 up to $1,500 based on length of service with the company.

A company statement notes

CarMax, Inc., the nation’s largest retailer of used cars, announced plans to provide one-time bonuses to most hourly and commissioned full-time and part-time associates as a result of the recently passed Tax Cuts and Jobs Act of 2017. Bonus amounts will vary from $200 up to $1,500 based on length of service with the company.

“Our success as a company is due to the hard work and dedication of our talented Associates,” said Bill Nash, CarMax President and CEO. “We are always looking for ways we can support them, and I’m pleased to have this opportunity to thank associates for all that they do every day for our customers and for each other.” About 80 percent of associates will receive the bonus, which will be distributed in March 2018.

With headquarters in Richmond, Virginia, CarMax has 202 stores and nearly 25,000 associates nationwide.

See also: over 700 examples of tax cut good news -- raises, bonuses, benefit increases, utility rate reductions, business expansions

 

 

 

Photo Credit: Sanjoy Ghosh

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