Mark Zuckerberg may owe $1.1 billion in taxes

[American_Jihad]

Mark Zuckerberg may owe $1.1 billion in taxes​

By Kim Peterson 10 hours ago

The Facebook founder bought 60 million shares of his company for just 6 cents during the IPO. The IRS treats that as income, even if he hasn't sold those shares.



Mark Zuckerberg's team of accountants has a big headache on its hands: The Facebook (FB -0.20%) founder probably has a tax bill of around $1.1 billion.

Zuckerberg bought 60 million Facebook shares for just 6 cents each on May 18, 2012, the day of the company's initial public offering, CNNMoney reports. But even if he never sold those shares, they still count as income, bringing his income just from stock options last year to nearly $2.3 billion.

Under California's highest-tier tax bracket, Zuckerberg would likely get taxed at 48.3%. There are several loopholes the wealthy can take advantage of, but three California accountants that CNNMoney talked to estimated Zuckerberg's 2012 taxes at higher than $1 billion.

...

Mark Zuckerberg may owe $1.1 billion in taxes- MSN Money

 

[waltky]

Granny says dey oughta make him sell the company...

... an' go to work pullin' a donkey cart uphill.

 

[Norman]

Mark Zuckerberg may owe $1.1 billion in taxes​

By Kim Peterson 10 hours ago

The Facebook founder bought 60 million shares of his company for just 6 cents during the IPO. The IRS treats that as income, even if he hasn't sold those shares.



Mark Zuckerberg's team of accountants has a big headache on its hands: The Facebook (FB -0.20%) founder probably has a tax bill of around $1.1 billion.

Zuckerberg bought 60 million Facebook shares for just 6 cents each on May 18, 2012, the day of the company's initial public offering, CNNMoney reports. But even if he never sold those shares, they still count as income, bringing his income just from stock options last year to nearly $2.3 billion.

Under California's highest-tier tax bracket, Zuckerberg would likely get taxed at 48.3%. There are several loopholes the wealthy can take advantage of, but three California accountants that CNNMoney talked to estimated Zuckerberg's 2012 taxes at higher than $1 billion.

...

Mark Zuckerberg may owe $1.1 billion in taxes- MSN Money

WTF? How can they treat unsold shares as INCOME? That's pretty ridiculous. Is this source credible?

But yeah it sure is nice being taxes at 48% when your corporation was already taxed at 30%. And of course, if you dare buy something with that money, you have to pay sales taxes. Not to mention all other tax like mandatory payments and regulations.

I anticipate he will be leaving soon...

 

[editec]

Mark Zuckerberg may owe $1.1 billion in taxes​

By Kim Peterson 10 hours ago

The Facebook founder bought 60 million shares of his company for just 6 cents during the IPO. The IRS treats that as income, even if he hasn't sold those shares.



Mark Zuckerberg's team of accountants has a big headache on its hands: The Facebook (FB -0.20%) founder probably has a tax bill of around $1.1 billion.

Zuckerberg bought 60 million Facebook shares for just 6 cents each on May 18, 2012, the day of the company's initial public offering, CNNMoney reports. But even if he never sold those shares, they still count as income, bringing his income just from stock options last year to nearly $2.3 billion.

Under California's highest-tier tax bracket, Zuckerberg would likely get taxed at 48.3%. There are several loopholes the wealthy can take advantage of, but three California accountants that CNNMoney talked to estimated Zuckerberg's 2012 taxes at higher than $1 billion.

...

Mark Zuckerberg may owe $1.1 billion in taxes- MSN Money

I believe that they may be thought of as CAPITAL GAINS, rather than "income".

But until those capital gains are realized?

How can these UNREALIZED profits be taxed?

Now if he gets dividends for those stocks, well naturally those are taxable income.

 

[Avorysuds]

No wonder he wants to run away to another country with all his money. Why does Government hate people so much, lol.

 

[Paulie]

This is entirely inaccurate. Capital gains are derived from the disposition of an asset. Zuckerburg owes no capital gains taxes on any shares of stock he hasn't sold.

 

[Paulie]

It's funny how a MSN article is ok for a conservative if it confirms his bias, though

 

[American_Jihad]

It's funny how a MSN article is ok for a conservative if it confirms his bias, though

You fvcks are never happy unless you have a %$&% in you're (^& and one in yo mouth...

 

[tjvh]

Oh yay, it's a bash a successful person thread...