Facebook paid no taxes despite record profits

Fox ^ | February 16, 2013 | Fox News

[ImJustAnotherOkie]

Despite earning more than $1 billion in profits last year, social media juggernaut Facebook paid zilch when it came to federal and state taxes in 2012.

In fact, the website will actually be getting a refund totaling $429 million thanks to a tax reduction for executive stock options.

In the coming years, Facebook will continue to get monster tax breaks, totaling about $3 billion.

[adorno]

But you also need to understand that if we ever hope to connect with the next generation of voters, we’re going to need to do something via the internet because that’s where they get their information and opinion.

I keep hearing that from so many people, and a bunch of them right here on FR, but, nobody ever gets working on a real solution. FR is far from the solution, although it's good to know it exists. Other than FR, Rush and perhaps FOX, there's not very much taking place to fix the problems about how people get their news and information and opinion.

[BwanaNdege]

Google & Facebook are two entirely different things. Totally different functions.

Only similarity is that they are both Internet based and have made their founders billionaires.

[Conservativegreatgrandma]

I see pro-Second Amendment posts all the time. I share them.

[NoLibZone]

we have a purely political tax system.

[444Flyer]

In this pic, it looks like 0 has a thing for Zuckerberg. It is creepy nontheless.

[Little Ray]

I’d be #2...
That was my response to this - how did they do it, and is there anything I can do to get similar results?

[444Flyer]

Rebelbase posted this on a thread last week. Can’t stop laughing a about it. It is so clever, especially if you don’t FB, which sounds like a lot of us here.

“A Man Without A Facebook”

http://www.youtube.com/watch?v=a69RpEBJFAY

[Raycpa]

Calm down. The stock options are treated as salary to the company and income to those who received them. Taxes are paid on this salary.

Any refund is simply a return of the company’s overpaid taxes from loss carryback from the salary deductions.

It is simply a transfer of the tax liability from the company to the key employees.

[ImJustAnotherOkie]

Loved it!!!

[Chickensoup]

I don’t understand your comment.
Google is a solid partner in the Baraqqi Coalition.

__________________

There is enough people out in the world who look at Google’s and FB numbers and think that they are both arms of the federal government.

[GrandJediMasterYoda]

yeah but what they don’t tell you is how much FB gave away to charity.

http://www.foxnews.com/tech/2012/12/19/facebook-ceo-mark-zuckerberg-donating-500-million-in-stock-to-silicon-valley/