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facebook pullls 3 card ( tax ) trick on USA gov't.IRS

facebook turns billion-dollar profit into tax refund

     

Leosghost

10:58 pm on Feb 18, 2013 (gmt 0)

WebmasterWorld Senior Member leosghost is a WebmasterWorld Top Contributor of All Time 10+ Year Member Top Contributors Of The Month



Bloomberg is reporting that Facebook has managed to parlay a billion-dollar profit for 2012 into a tax refund of US$429 million.

According to an analysis by Citizens for Tax Justice, The Social NetworkTM got its tax break through deductions for the cost of executive stock options and share awards. For tax purposes, these are treated the same as cash compensation to the executives.


[theregister.co.uk...]

As usual ..the comments at elreg relating to the article ..are well worth reading..not merely in relation to how facebook "waltz" the IRS..