Posted on February 19, 2013 at 1:39 PM
Facebook is reportedly receiving a half-billion dollar refund after it paid no state or federal taxes on its profits for 2012.
Citizens for Tax Justice says it found Facebook's annual earning report, and says the social network won't owe any taxes on its $1.1 billion dollars in pre-tax profits from last year.
The tax research group says Facebook is using stock options and other forms of compensation to investors and employees for the write-off. Analysts say the move is legal, and is related to the company's decision to go public last year.
WCNC: Facebook reportedly receives half billion dollar tax refund