You Probably Paid More Taxes Than Facebook In 2012
How much federal and state income tax did Facebook pay in 2012? If you guessed, “zero,” you were correct, and if you guessed that the social network received $429 million in net tax refunds, you get extra credit.
How much federal and state income tax did Facebook pay in 2012? If you guessed, “zero,” you were correct, and if you guessed that the social network received $429 million in net tax refunds, you get extra credit.
Citizens for Tax Justice examined Facebook’s recently filed 10-K annual form for the Securities and Exchange Commission and found that the company was able to exploit the law that allows for tax deductibility of executive stock options, lowering its federal and state income tax obligations by $1,033 million in 2012, including refunds of earlier years’ taxes of $451 million.
CTJ added that Facebook has another $2.17
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