Facebook to Pay Zero Taxes, Will Receive $429 Million Tax Refund

 

 

” While Obama spends a lot of time talking about how the “rich” should pay their fair share, expect Obama to mention this minor incident… never. Fair share paying doesn’t apply to Obama supporters, whether in his cabinet or outside it. It never did.

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.”