Facebook Paid No Corporate Income Tax Last Year, After Making More Than $1 Billion In Profits

  • metta

    Posts: 39159

    Feb 15, 2013 8:15 PM GMT
    Facebook Paid No Corporate Income Tax Last Year, After Making More Than $1 Billion In Profits

    http://thinkprogress.org/economy/2013/02/14/1597741/facebook-pays-no-taxes/
  • conservativej...

    Posts: 2465

    Feb 15, 2013 8:25 PM GMT
    Ah, don't worry. The profit the government made on its' Solyndra startup will cover the cost of the taxes missed for years to come. icon_cool.gif
  • Posted by a hidden member.
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    Feb 15, 2013 8:55 PM GMT
    From what I understand, once one accounts for the stock options FB issued to the employees, all the profits disappear and deficits show up. Surely FB has to pay very high compensation to many of its key employees to keep them happy, and the options are at this stage the best way to do it. Hardly qualifies as surprising or wrong in any way, except perhaps for the FB shareholders, who usually have an incorrect picture of the profits precisely because of the way stock option grants are accounted for in statements shown to them.