Boxden hiphop sports wild'ish games movies news eyecandy tech gear rides
trending now most viewers #top20 top yesterday all sections videos pics tracks headlines

Feb 19 - the facebook empire pays ZERO income tax and gets $429 million refund

most watched this minute | see more
most viewed right now
150 viewing
Audio inside Meek Mill - Beautiful Nightmare (Drake Diss)
241 comments
most viewed right now
124 viewing
 Drake - Hotline Bling [FIRE!]
28 comments

top in section
37 viewing
 Image inside God is calling Liam Neeson, He's telling him to come Home
top in movies
top in section
47 viewing
 Jul 27 - Georgia men with Confederate flags threatens to kill children at a bi..
top in news

people viewing this topic:   (0 members and 1 guests)  
 
 

let em know » Share this on TwitterShare this on Facebook
 Feb 19 - the facebook empire pays ZERO income tax and gets $429 million refund
Unread 2 years agoclass of '09 - away - #1
2839 pageviews
42 comments


messy marv stan 2827 heat pts2827 space
avatar space
messy marv stan
space
$23,259 | POWERFUL
Facebook pay no tax for 2012 and even get a tax refund of $429MILLION despite $1BILLION in profits | Mail Online




[pic - click to view]






Facebook claim they have a $559 million federal tax liability


But a huge tax break means the world's largest social media company will actually receive a refund



.Facebook will not pay any tax for 2012 despite making $1.1 billion in pre-tax profits from U.S. operations, according to a report released on Thursday.
But Mark Zuckerberg's company will also get a multimillion dollar tax refund of around $429 million according to Citizens for Tax Justice (CTJ).

The refunds reportedly come from tax deductions on executive stock options and share awards



Facebook released its first annual report as a public company on January 30 after floating in May 2012.

CTJ describe the fact that the company 'did not pay even a dime in federal and state income taxes' as an 'amazing admission.'
As reported by Businessweek, Facebook says it had a $559 million federal tax liability in 2012.


But their refunds on the tax deductibility of stock options reduced the companies federal and state income taxes by $1.03 billion for the year, including refunds of earlier years’ taxes of $451 million


Facebook spokeswoman Ashley Zandy declined to discuss the tax break with Businessweek and instead referred to a transcript of Facebook executives’ conference call with analysts.

In this call, Chief Financial Officer David Ebersman mentioned the accumulated tax benefits before noting that Facebook ended the fiscal year with nearly $10 billion in cash and investments.

Ebersman claimed this gave the company 'great flexibility and risk protection.'

Facebook delivered fourth-quarter results above Wall Street's expectations on January 30 and sought to show that it has finally transformed into a 'mobile company' after rising to dominance as a Web-based social network.

But its stock dropped in after-hours trading as investors placed more significance on the company's growing expenses rather than on its increasing user base and higher advertising revenue.

'Everything was slightly better than expected,' said Wedbush Securities analyst Michael Pachter. 'I don't see anything here that would make me want to sell the stock.'

Nonetheless, Facebook's stock fell $1.11, or 3.6 percent, to $30.13 in after-hours trading following the earnings report.

Facebook Inc. grew its revenue and increased the percentage of it that comes from mobile advertising - a closely watched figure. But expenses also grew sharply.

The company also said 2013 will be a year of 'significant investments' and hiring as it focuses on long-term growth rather than short-term profits.

The world's largest social media company earned $64 million, or 3 cents per share, in the October-December period. That's down 79 percent from $302 million, or 14 cents per share, a year earlier when it was still a privately held company.

Revenue rose 40 percent to $1.59 billion from $1.13 billion, surpassing analysts' expectations of $1.51 billion.

Advertising revenue grew 41 percent to $1.33 billion, increasing at a faster clip than in the third quarter, when it climbed 36 percent to $1.09 billion
Reply With Quote
Props given to messy marv stan hot topic  (02-19-2013)

42 comments for "Feb 19 - the facebook empire pays ZERO income tax and gets $429 million refund"

- To post a comment, join the squad -


Unread 2 years agoclass of '07 - on now - #2
Ham Rove 2771 heat pts2771 space
avatar space
Rizzo & Bryant>>>
space
$44,243 | POWERFUL
yeah thats bullsh*t, but but poor people are to blame!!!! These corporations getting huge tax rebates is nothing new. I mean for christ sake we are subsidizing the most profitable corporations in world history, the oil companies.
Reply With Quote
Unread 2 years agoclass of '05 - away - #3
TheChief 15 heat pts15 space
avatar space
Senior Member
space
$3,754 | POWERFUL
they help out the feds with information, gotta give them something for that sh*t
Reply With Quote
Unread 2 years agoclass of '04 - away - #4
ATLANTASTAN 58 heat pts58 space
avatar space
LOVE DA KIDS
space
$25,484 | POWERFUL
a change will come
Reply With Quote
Unread 2 years agoclass of '08 - away - #5
JetsLost 18 heat pts18 space
avatar space
Babe?
space
$6,836 | POWERFUL
America
Reply With Quote
Unread 2 years agoclass of '04 - away - #6
Silver N Black 18 heat pts18 space
avatar space
Senior Member
space
$26,626 | POWERFUL
facebook accountants sleeping in piles of cash, doing lots of blow and fu*king ya favorite models.
Reply With Quote
Unread 2 years agoclass of '07 - away - #7
cankstoochie 46 heat pts46 space
avatar space
f who he's offending
space
$14,695 | POWERFUL
This makes no sense. The government knows that there are loopholes and continue to do nothing about it.
Reply With Quote
Unread 2 years agoclass of '06 - away - #8
philly337 15 heat pts15 space
avatar space
Senior Member
space
$23,007 | POWERFUL
And this is exactly the problem

I posted many articles last year how like 70% of big business paid in no tax and actually received refunds

sh*ts crazy...and middle class morons will still support republicans
Reply With Quote
Unread 2 years agoclass of '05 - away - #9
FlamboyantOne 1 heat pts space
avatar space
LOOSE CANNON
space
$3,538 | 10142295
for the life of me , I dont get why FB makes that much money.


sh*t, why stop there with the greed......come up with 6.99 Monthly fees or some sh*t
Reply With Quote
Unread 2 years agoclass of '10 - away - #10
Sk8bamboo 46 heat pts46 space
avatar space
Senior Member
space
$1,164 | POWERFUL
Pretty disheartening to be an American sometimes.
Reply With Quote
Unread 2 years agoclass of '08 - away - #11
PEK 6 heat pts space
avatar space
Senior Member
space
$8,860 | POWERFUL
How the fu*k do you get a refund if you didnt even pay taxes? Thats some bullsh*t and I aint just talking about facebook, I'm talking about everybody that gets a refund higher than what they actually paid in taxes. The IRS stay raping my pockets and hardly give me sh*t back. I paid like 25k in taxes and got less than 5k back. This some bullsh*t
Reply With Quote
Unread 2 years agoclass of '10 - away - #12
420Heat 3 heat pts space
avatar space
fu*k off
space
$5,878 | 17344803
FlamboyantOne said:
for the life of me , I dont get why FB makes that much money.


sh*t, why stop there with the greed......come up with 6.99 Monthly fees or some sh*t
people wouldnt use it then

mebe a dollar a month
Reply With Quote
Unread 2 years agoclass of '11 - away - #13
Backflipz 82 heat pts82 space
avatar space
Thr33sus Christ
space
$12,462 | POWERFUL
philly337 said:
And this is exactly the problem

I posted many articles last year how like 70% of big business paid in no tax and actually received refunds

sh*ts crazy...and middle class morons will still support republicans
It's crazy people believe in this sh*t.

I was in my Sociology class and the teacher was giving a lecture about consolidation of wealth in the 1% and we got to the part about companies paying no taxes.

This being the south, one redneck dude was saying "well they got to keep competitive and it's a good thing to do Reagan trickle down economics. We should do more of it to stimulate the economy!"

How do you think we got here in the first place
Reply With Quote
Unread 2 years agoclass of '10 - away - #14
Trilluminati GA 409 heat pts409 space
avatar space
HardOnHoes2K15
space
$39,920 | POWERFUL
our gov't is a joke
Reply With Quote
Unread 2 years agoclass of '12 - on now - #15
kiddalex 8 heat pts space
avatar space
Fury-ous Styles
space
$2,976 | POWERFUL
I'm bout to go Chris D on these fu*king corporate crooks mane




How am I paying more in taxes than FB ?!?!?!
Reply With Quote
Unread 2 years agoclass of '05 - away - #16
choong 9 heat pts space
avatar space
Black Budget CEO
space
$3,313 | 9736834
Apple, Google and Starbucks are a few more companies that avoided paying tax in the UK, yet the made hundreds of millions from trading here!
Reply With Quote
Unread 2 years agoclass of '11 - away - #17
Trolling 62 heat pts62 space
avatar space
#RocketsLost
space
$1,859 | POWERFUL
Reply With Quote
Unread 2 years agoclass of '07 - away - #18
iThink 7 heat pts space
avatar space
The GOAT - #20
space
$13,936 | POWERFUL
broken system


ordinary citizens are to blame if you ask repubs though, corporate welfare like this is okay to them.
Reply With Quote
Unread 2 years agoclass of '11 - on now - #19
superdrunken 7 heat pts space
avatar space
Senior Member
space
$6,720 | POWERFUL
capitalism is just like an extension of nature and survival of the fittest... ain't nothing fair in this world They will take any and all available options to fu*k over everyone else and survive in the most profitable way possible.

And to be fair, corporate profits are extremely high under Obama.
Reply With Quote
Unread 2 years agoclass of '09 - away - #20
messy marv stan 2827 heat pts2827 space
avatar space
messy marv stan
space
$23,259 | POWERFUL
the tax code is a joke
the only way to get tax breaks is to bribe these politicians
Reply With Quote
 

Home > all sections > BX Daily Bugle
  
    
          join bx


 




that hot ish yesterday


most viewed right now
127 viewing
Image inside BREAKING: 100 Days 100 Night Killing Spree Gang War In South Central LA
531 comments
@hiphop
most viewed right now
49 viewing
Video inside THIS BELONGS ON BX!!!! Miss BumBum Football Team!!!
35 comments
@eyecandy
most viewed right now
30 viewing
Image inside Jay Z x The Weeknd | On the set of 'The Hills Remix'
62 comments
@hiphop
most viewed right now
27 viewing
Video inside Top 10 Dark Secrets From Hollywood
32 comments
@movies
most viewed right now
25 viewing
Jul 26 - Florida: Two 14 Year-Old Boys Lost At Sea; Capsized Boat Found, Boys ..
100 comments
@news
most viewed right now
17 viewing
Video inside Khloé Kardashian Complex Cover | Behind The Scenes
74 comments
@eyecandy
most viewed right now
13 viewing
Image inside Newegg Sale Tomorrow (6/28)
32 comments
@games
most viewed right now
11 viewing
Video inside Man raped by woman shares his story
69 comments
@wild'ish
most viewed right now
9 viewing
Video inside Kanye West meets Caitlyn Jenner on her show(video)
94 comments
@hiphop

^
contact us   |   bx@twitter   |   bx@facebook   |   privacy   |   search   |  © BX 1998-end of time