Facebook is barely making it...poor guys need the tax breaks to stay afloat!

[SiriusDawg]

Last year at this time, CTJ predicted, based on Facebook’s IPO paperwork, the company would get a federal tax refund in 2012 approaching $500 million, and the company’s SEC filing this month tells us we were right: Facebook is reporting a $429 million net tax refund from the federal and state treasuries. And it’s not because they weren’t profitable. Indeed, Mark Zuckerburg’s little company earned nearly $1.1 billion in profits…

Facebook’s income tax refunds stem from the company’s use of a single tax break, that is the tax deductibility of executive stock options. That tax break reduced Facebook’s federal and state income taxes by $1,033 million in 2012, including refunds of earlier years’ taxes of $451 million.

Facebook says that it anticipates reducing its tax liability in the future by an additional $2.17 billion by using further net operating loss carry-forwards that it has banked.

http://www.ctj.org/taxjusticedigest/...te_a_429_m.php

Here is to hoping that while little to no small/medium type businesses get these types of breaks....that Facebook somehow makes it through the tough times and succeeds!

[EddyG]

Fuck facebook

[mattyfishrip197]

Fuck facebook

this

[Czech]

no,

fuck those that don't hold their government and lawmakers accountable.

[stripes]

thanks obama

[Bosch76]

http://www.ctj.org/taxjusticedigest/...te_a_429_m.php

Here is to hoping that while little to no small/medium type businesses get these types of breaks....that Facebook somehow makes it through the tough times and succeeds!

And Mitt Romney and the rest of the unamericans that use this carry forward deduction to pay less than 10% a year.

[MatthewT]

really, really, really pays to be an obama contributor

[rebelfan]

Originally Posted by EddyG
Fuck facebook

this

I think what they think. Like what's the point of attention whoring oneself?