• Facebook paid no taxes despite record profits
    22 replies, posted
[url]http://www.foxnews.com/tech/2013/02/16/facebook-paid-no-taxes-despite-record-profits/[/url] [url]http://www.businessweek.com/articles/2013-02-15/facebook-gets-a-multi-billion-dollar-tax-break[/url] [quote]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.[/quote] Facebook paid no taxes despite record profits [img_thumb]http://cdni.wired.co.uk/620x413/d_f/facebook_2_1.jpg[/img_thumb] [quote]Despite earning more than $1 billion in profits last year, social media juggernaut Facebook paid zilch when it came to federal and state taxes in 2012. In fact, the website will actually be getting a refund totaling $429 million thanks to a tax reduction for executive stock options. In the coming years, Facebook will continue to get monster tax breaks, totaling about $3 billion. [/quote] I guess this shows how outdated taxation is.
lol fox
Yeah you're not supposed to post FOX articles anymore unless you provide an alternate source with the same story.
How do they get tax breaks if they don't pay taxes? Don't you know, have to be paying taxes before you can get a tax break?
Claims to be social network.. Doesn't contribute to society.. :v:
This shit is ridiculous
[QUOTE=Bradyns;39619831]Claims to be social network.. Doesn't contribute to society.. :v:[/QUOTE] [url]http://www.cnn.com/2010/TECH/social.media/09/23/facebook.donation/index.html[/url]
Just another tax day in corporate finance.
[QUOTE=Sir_takeslot;39619824]How do they get tax breaks if they don't pay taxes? Don't you know, have to be paying taxes before you can get a tax break?[/QUOTE]We give tax rebates to the corporations with negative tax rates if I remember correctly.
tax returns are bullshit sadly we probably won't ever see tax reform because all the biggest lobbies are companies who abuse the same system
How is this surprising at all
They are going to have to pay for this...
It's all that money from people sending Mark messages for $100
[QUOTE=Noble;39619855][url]http://www.cnn.com/2010/TECH/social.media/09/23/facebook.donation/index.html[/url][/QUOTE] [IMG]http://speedcap.net/sharing/files/16/34/1634f26feab0ffafb254475b32f9de93.png[/IMG]
I can't help but think that this article being posted by Bloomberg's magazine and Fox News is a bit fishy.
Ah! So this is why I always get invoices from them as "Facebook Ireland Ltd." even though I'm purchasing their services from FUCKING REPUBLIC OF PANAMA. Zuckerberg you greedy bastard.
That's it. Back to MySpace
I think I heard something about how they have to at least pay a shit load of california income taxes... I am pretty sure this is just made up. Maybe it's only this time because their going publicly traded didn't quite work out for them and they lost a lot of money.
If I was in congress, I'd have the companies lobby me--I'd take the money and not follow their orders. $$$
[QUOTE=barttool;39620943]Ah! So this is why I always get invoices from them as "Facebook Ireland Ltd." even though I'm purchasing their services from FUCKING REPUBLIC OF PANAMA. Zuckerberg you greedy bastard.[/QUOTE] That'll be because Ireland is a tax haven for tech companies
Cool, I made $20,000 last year and I owe $500 to the IRS. And I had taxes taken out of every pay check.
[QUOTE=Map in a box;39625130]If I was in congress, I'd have the companies lobby me--I'd take the money and not follow their orders. $$$[/QUOTE] You'd have 0 chance at reelection then.
[url]http://en.wikipedia.org/wiki/Corporate_social_responsibility[/url]
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