Facebook, the most popular social website on the Internet, picked up even more publicity this week - but not necessarily in positive light.
After going public last year with shares regularly sold and traded on Wall Street, the corporation's first annual shareholder report shows not just high profits, but high tax refunds, too.
That's right - while single, non-senior citizens have to pay taxes on a meager $9,350 in gross annual income, Facebook will get hundreds of millions in refunds after clearing over $1 billion in profit.
And if these findings by Citizens for Tax Justice don't upset you enough, then learning that Facebook ranks only seventh in the amount of tax refunds received by profitable corporations in the last few years sure will. Citizens for Tax Justice offers details on 30 other companies that get these benefits, as well.
(Not to upset you even more, but it’s we citizens who foot the bill for those refunds, too.)
See the Top 10 list for more details.