Facebook paid no taxes in 2012, gets $429 million tax rebate instead

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Despite going public and earning US$1.1 billion last year, Facebook paid exactly zero dollars in taxes in 2012.

In fact, the brainchild of Mark Zuckerberg is due a refund of US$429 million.

By way of comparison, the average tax refund to American households in 2012 was a mere $2,803.

According to a report from Citizens for Tax Justice, "Facebook is also carrying forward another $2.17 billion in additional tax-option tax breaks for use in future years."

Note that as of this month, the average indebted U.S. household carries roughly $200,000 in debt: $15,257 in credit card debt, $149,782 in mortgage debt, and $34,703 in student loans.

But the huge corporate tax breaks, continual privacy breaches, errors, and identity theft are a small price to pay for the ability to overshare the intimate details of your life with near-strangers, right?

Follow the Facebook-free Miranda Nelson on Twitter at @charenton_.

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Feb 25, 2013 at 3:50pm

facebook keeps f*cking the public and you people keep sending them money.

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