Facebook paid no taxes despite record profits
Facebook paid no taxes despite record profits
"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."
Reader comment:
"The article ignores that his method of accounting for stock options was mandated as part of the reforms after the dot com bust. This type of outcome was predicted at the time, but ignored by Congress in their rush to look like they were doing something."
The article ignores that his method of accounting for stock options was mandated as part of the reforms after the dot com bust. This type of outcome was predicted at the time, but ignored by Congress in their rush to look like they were doing something.
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