Facebook pays no taxes, gets $500M refund
MENLO PARK, CA – Why Facebook’s Mark Zuckerberg smiling? You would be, too, if you were getting a half-a-billion dollar tax refund.
At least that’s what Citizens for Tax Justice says it learned after going through Facebook’s annual earnings report.
CTJ says Facebook made around $1.1 billion in pre-tax profits in 2012, and it won’t have to pay a red cent on that money thanks to stock options and other forms of compensation to investors and employees.
Not only that, but the taxpayers, that’s us, have the great honor of paying Facebook $500,000,000 in tax refunds. That’s kind of our way of clicking the ‘Like’ button and paying out the wazoo to do it.
But if you’re hacked about Facebook’s taxes, you’ll have to stand in line, behind real hackers. Facebook says it got hit last month by a ‘sophisticated attack’ after some employees visited a website that dropped some malware on them.
Maybe Facebook can use some of our half-a-billion dollars to teach their employees how to engage in safe surfing. Now there’s an idea we can all like.