Facebook Paid NO Taxes in 2012!

[Nickdfresh]

Facebook paid no taxes in 2012
By Zach Epstein | BGR News – 6 hrs ago

2012 was a big year for Facebook (FB). The company’s initial public offering last May was the largest Internet IPO in history even though it was an absolute mess, and Facebook managed record profits of roughly $1 billion for the full year. Despite its huge profit in 2012, Facebook will pay no federal or state taxes on its income — in fact it will get a $429 million refund instead, thanks to a tax reduction for executive stock options. Fox News reports that Facebook will continue to get huge tax breaks totaling about $3 billion in the coming years, as well.

“The employees cash in stock options, and at that point there is tax deduction for the company,” Robert McIntyre of watchdog group Citizens for Tax Justice told Fox News during an interview. “Because even though it doesn’t cost Facebook a nickel, the government treats it as wages and they get a deduction for it. And usually it doesn’t wipe out companies whole tax bill, although many companies get big breaks from it.”

Yahoo Link

[Nickdfresh]

Fucking travesty!

[Hardrock69]

All corporations should be required to be a minimum tax. If nothing else, 10% should be a good minimum.

This is a load of crap.

[Nitro Express]

Another reason I don't like income tax. The reason politicians love income tax is they can play all sorts of political games. With a VAT tax everyone pays. No way around it unless you want to buy on the black market.

[Hardrock69]

I would agree. And I would think the revenue would increase drastically.

[Dr. Love]

Facebook paid no taxes in 2012
By Zach Epstein | BGR News – 6 hrs ago

2012 was a big year for Facebook (FB). The company’s initial public offering last May was the largest Internet IPO in history even though it was an absolute mess, and Facebook managed record profits of roughly $1 billion for the full year. Despite its huge profit in 2012, Facebook will pay no federal or state taxes on its income — in fact it will get a $429 million refund instead, thanks to a tax reduction for executive stock options. Fox News reports that Facebook will continue to get huge tax breaks totaling about $3 billion in the coming years, as well.

“The employees cash in stock options, and at that point there is tax deduction for the company,” Robert McIntyre of watchdog group Citizens for Tax Justice told Fox News during an interview. “Because even though it doesn’t cost Facebook a nickel, the government treats it as wages and they get a deduction for it. And usually it doesn’t wipe out companies whole tax bill, although many companies get big breaks from it.”

Yahoo Link

I tried to click 'like' on this but the option wasn't there.

just kidding, fuck zuckerberg.

[Nickdfresh]

I tried to click 'like' on this but the option wasn't there.

just kidding, fuck facebook.

"You talkin' to me? Are you fuckin' talkin to me?"

[Dr. Love]

fuck you zucker the cock sucker!

[FORD]