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BLOOMBERG: Facebook Gets a Multi-Billion - Dollar Tax Break

BLOOMBERG: Facebook Gets a Multi-Billion - Dollar Tax Break

By Peter Coy
February 15, 2013

It hasn’t drawn much attention, but Facebook’s first annual earnings report contains an accounting gem: a multibillion-dollar tax deduction for the cost of executive stock options and share awards.

Even though Facebook (FB) reported $1.1 billion in pre-tax profits from U.S. operations in 2012, it will probably pay zero federal and state taxes—and even receive a federal tax refund of about $429 million—according to a Feb. 14 statement from Citizens for Tax Justice.

Read more: http://www.businessweek.com/articles/2013-02-15/facebook-get...

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ecorob's picture

Want to know what is WRONG with America.

Look no further than this.

its 'cos I owe ya, my young friend...
Rockin' the FREE world in Tennessee since 1957!
9/11 Truth.