Facebook's Mark Zuckerberg faces $1 billion tax bill

[DC Tom]

Michael Bay's plan was to make Zuckerberg transform into a huge douche during the movie.

 

That would be redundant. He went to Harvard.

[Dean Cain]

 

 

That would be redundant. He went to Harvard.

 

It's spelled Hahvad ya moron!

[3rdnlng]

Huffington Post and their difficulties with math:

 

http://money.msn.com...01-b548ce1bf466

 

 

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.

 

To put that in perspective, Zuckerberg is paying almost half of 1% of the total that all Americans paid in 2011, according to The Huffington Post.

 

Zuckerberg wasn't surprised by the tax bill. He sold some 30.2 million shares for $1.135 billion during the IPO just to cover the costs, according to CNNMoney.

[KD in CA]

To put that in perspective, Zuckerberg is paying almost half of 1% of the total that all Americans paid in 2011, according to The Huffington Post.

 

But he can afford to pay just a little bit more.

[3rdnlng]

But he can afford to pay just a little bit more.

 

Huffington Post doesn't have a clue. If Mr Z. was paying 1/2 of one percent (at 1.1 billion) of the total tax then the total tax by the government would be somewhere around 200 billion making our deficit in excess of 3 trillion dollars, not the measly 1.4 trillion it is now.