EMAIL SIGN UP!
Most Popular This Week
- 21 Ways the Canadian Health Care System is Better than Obamacare
- The Empire Strikes Back: How Wall Street Has Turned Housing Into a Dangerous Get-Rich-Quick Scheme -- Again
- Naming Names: The 90 Companies Destroying Our Planet
- Scared to Death in the USA
- Bernie Sanders: To Defeat Oligarchy, I Would Run for President
Today's Top News
Facebook: Over $1 Billion in Profits, $0 in Taxes in 2012
Facebook Inc., which made $1.1 billion in profits in 2012, did not pay any federal and state income taxes, but instead reaped $429 million in net tax refunds, according to a report released Thursday from Citizens for Tax Justice.
Its tax dodging was made possible by taking advantage of tax deductibility of executive stock options.
The company is also bringing $2.17 billion in additional tax-option tax breaks for future use, CTJ notes.