(Businessweek) 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?according to a Feb. 14 statement from Citizens for Tax Justice.
Source: http://www.wnd.com/2013/02/facebook-gets-multibillion-dollar-tax-break/
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