Truthdig - Tag - Corporate Tax Handouts

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Tag: Corporate Tax Handouts

Flickr/Andrew Feinberg

How Facebook Made a Billion Dollars, Paid No Taxes and Expects a Huge Refund

Despite making $1.1 billion after going public last year, Facebook didn’t pay a dime in state or federal income taxes in 2012. Instead, thanks to the social media company’s use of a single tax break, it anticipates getting a massive refund from the government totaling $429 million.