Facebook to Receive $429 Million Dollar Refund Despite Paying Zero Income Tax in 2012
Facebook made about $1.1 billion dollars in profit last year in the United States, but paid no federal or state income tax for 2012. Yet, they’re expected to receive a refund of $429 million dollars thanks to a tax deduction for executive stock options.
The social media company also revealed that its site was hacked in recent weeks. They say intruders breached the system but no sensitive user information was taken. A security expert with knowledge of the attack said it appears to have originated in China, but Facebook has not confirmed that information.