Not Only Will Facebook Pay No ($0) Taxes for 2012, It Will Actually Get a Refund for $429 Million

I have no problem with Facebook. In fact I like Facebook. I use it personally to chat with interesting people from around the world every day. It makes my life better, which is what a product should do.

At ACC we consider Facebook a vital resource as well. Heck, we use Facebook as our main comments interface.

And generally speaking we are very much for anyone reducing their tax outlay to the legal minimum. More capital kept in the private sector the better.

But that Facebook will receive a tax refund of over $400 million is news.

(From Bloomberg.com)

You won’t find any $429 million tax refund in Facebook’s financial statements. Indeed, the company says it had a $559 million federal tax liability in 2012. But that liability isn’t an actual payment. In a footnote, the company also said that it had a $1.03 billion “excess tax benefit” last year related to “stock option exercises and other equity awards.” That benefit is what flips the federal tax liability into a refund. (A small portion is applied against state taxes.)

Click here for the article.

64 comments
Walter Lanz
Walter Lanz

We need tax revision done by other than the lobbyists!

Jeanette White
Jeanette White

This is exactly why we need a tax overhaul - we ALL pay the same share or we pay none at all.

Frank E. Ball
Frank E. Ball

Several of the owner gave up there citizenship so they wouldnt have to pay any taxes.

Jim Thurman
Jim Thurman

And exactly what value did FB bring to the country?

Nancy Covault Longworth
Nancy Covault Longworth

And they sit around scratching their heads trying to figure out why so many want to cheat on their taxes

Marti Rundus
Marti Rundus

Facebook spies on citizens for Obama administration.

Diana Reid
Diana Reid

Right now, when you sign out of Facebook your browser is still tracking your computer search activities. You need to clear your history / cookies every time you sign out. Yes, you will have to log in every time too. Are sales adds following you everywhere you go! That's Why!

Jefe Burgess
Jefe Burgess

"If a tax is in fact unjust, and some are exempt from it, the hue and cry should not be to extend the tax to everyone, but on the contrary to extend the exemption to everyone" - Murray Rothbard

Jefe Burgess
Jefe Burgess

Go Facebook! Let's extend exemptions to everyone! If you look at this and think FB should get taxed, I ask why? So the $ can be stolen from the private sector & wasted by the govt? Don't let an overdeveloped sense of fairness & the left/right warfare snooker you into advocating for tax increases.

Cindy Arnold
Cindy Arnold

Just what is FB doing for the govt? Maybe that is the bigger question!

Judith Cook
Judith Cook

the more money you make the easier it is........

J Ladd Yost
J Ladd Yost

"Facebook UNfriends 'Against Crony Capitalism'. Film at 11"

Jim Brawley
Jim Brawley

Because the OWNER left the USA so he didn't have to pay TAXES!

Shane Oswald
Shane Oswald

yep FB sucks. banned me for 2 days for sharing photos. said I was spamming. isnt it my page I am posting on? I am not sharing on others pages. There are settings not to receive my page shares...but I get banned for 9 pictures. FB is a joke, and they share our info with authorities without warrants. I have found other sites that do not, and will not be hanging around much here anymore. F FB

Colby Cabbiness
Colby Cabbiness

I don't mind them paying zero taxes, but a massive refund? That comes from OTHER taxpayers!

Mark Scirocco
Mark Scirocco

It is easy, you just make a lot of money, give it to Obama and crew, suck up to to him, and voila no taxes.

Jarrel Haynes
Jarrel Haynes

Sure wish some of that would go to those of us that bought there stock and lost $15 a share immediately

Maria C. Mitchell
Maria C. Mitchell

Why is paying money to the federal government the "right thing"? What would they do with it? Pay down the debt that THEY got us in? Bahahahahahahahahahahaha!

Maria C. Mitchell
Maria C. Mitchell

Taxpayers need lobbyists! Let's pool our resources and get us a couple!

Maria C. Mitchell
Maria C. Mitchell

Let's see...either FB can put billions of bucks in the coffers of the Federal government to wee-wee away on giveaways to corporations, dumb wars, or dumb sheep constituents for re-election campaigns (Obamaphones), OR Facebook can stick it to the feds and get a bunch of $$$ back in a tax rebate so they can spend it on their business or so their executives can go live it up and spread a little of the wealth around voluntarily. Which would I rather have? ;)

Shawn Eng
Shawn Eng

Every single tax loophole has a constituency and a lobbyist assigned to it.

Thad Daly
Thad Daly

- gotta luv a working system-- that doesn't work--

Bill Adams
Bill Adams

Another reason a corpration cn be taxed "legally' based on the 16th. because its not a US citizen even though some cases have tried to make them into a legal citizen status, right now they are treated more like a "legal" resident status!

Kate Phillips
Kate Phillips

I want to know how to turn my tax liability into a refund.

Bill Adams
Bill Adams

Fair Tax would have done the same, except the consumers would have to pay something; artwork, baseballs, jet planes, etc.! Gold necklaces too!

Bill Adams
Bill Adams

Sounds like corporate welfare provided by the public, just like GE's tricks!

Jaime Yarbrough
Jaime Yarbrough

I suppose FB is actually a safety valve for the government. People get to rant here, bitch, gripe, groan, moan and voice their frustrations rather than acting on them either economically, legally, or physically. Although I'm sure the real price/cost of FB on our society is something else again. Still yet again if it weren't FB it Would be something / someone else. Nature abhors a vacuum.

Maria C. Mitchell
Maria C. Mitchell

CTJ is a lefty organization. www.lewrockwell.com/blog/lewrw/archives/132455.html

James Steelhaven
James Steelhaven

The "refund" part is taxes already paid into the Federal Treasury (read: IRS). I doubt Facebook is getting any corporate welfare, in this case. Remember, taxes are already collected on the income the employees, owners, shareholders, etc... that make up Facebook Inc. To tax Facebook directly on corporate income is double taxation. Now, this assumes that Facebook isn't getting corporate welfare. If they are, then fuck'em.

Normal Bates
Normal Bates

FB is part of the National Security Agency. Can't wait til' Obama signs his internet executive order making it official. They're watching you and soon they'll be doing it legally. Why? Because you the people don't give enough of a shit. That's why.

James Steelhaven
James Steelhaven

People, we should not be bitching at Facebook, Inc. and not having to pay any taxes. What we should do is consult with their accounts, lawyers, etc... and FIGURE OUT HOW IN THE HELL THEY DID IT! TAXATION IS THEFT, TAXATION IS SLAVERY.

Drew Schultz
Drew Schultz

no Wayne only people and some evil corporations pay taxes

Jeff Dowd
Jeff Dowd

If they paid no tax... how are they getting a refund? Isn't that called a bailout?

Jaime Yarbrough
Jaime Yarbrough

er...a 'refund' from what exactly? I don't mind they don't pay taxes as long as I, the consumer/user isn't being charged. IF I had a job I could live on and afford to pay I wouldn't mind either.