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Old 02-16-2013, 06:11 PM   #1
BendtheBar
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Default Facebook May Pay Zero Tax

Facebook Gets a Multibillion-Dollar Tax Break - Businessweek

Quote:
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.
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