WMFD TV

Search Archive WMFD.com News

www.wmfd.com - It might be time for Mark Zuckerberg to un-friend Uncle Sam. }}" />

   
 
 
Mark Zukerberg Owes IRS One Billion In Taxes

Story By: Larry Stine

 

 

 
 
 
  Email Story to Friend
   
  Original Published: 3/31/2013  It might be time for Mark Zuckerberg to un-friend Uncle Sam.   The Facebook C.E.O. is expected to owe the Internal Revenue Serice more than $1-billion in taxes for 2012.   The momentous bill stems from his decision to exercise a stock option and buy more than $60-million Facebook shares when the site went public.   Even though we don't know exactly what he'll owe, it is known that the IRS will treat his stock options as income, which translates to roughly %2-billion.   And since Zuckerberg's tax rate is close to 50 percent, well, you can do the math.   Zuckerberg knew the giant tax bill was coming, so he sold more than 30-million shares during Facebook's I-P-O to cover it, according to a Facebook regulatory filing.  
   
  MORE RECENT NEWS
 
Image1 An internationally-known psychologist and author of 49 books on marriage, parenting, and family life visits Mansfield. Full Story
Image1 A Mansfield man is behind bars following a burglary investigation that led to a chase. Full Story
 
Image1 The city of Shelby held their second annual Night of Christmas Magic, bringing festive cheer with a parade, a decorative train, and activities. Full Story
Image1 The United Way of Crawford County held a special "celebrity chef" benefit at Galion's Varsity Grille. Full Story
  MORE NEWS
 

Galion's Varsity Grille Holds Benefit for United Way

Holiday Fair brings Festive Crowds to Mansfield Art Center

High Wind WARNING

Cafe on Main holds Breakfast with Santa

No criminal charges in shooting by Richland Co. Deputies

More News