Facebook: An All American Corporation

Run by all-American profiteers. They learn young these days.

“When profitable corporations can use the stock option tax deduction to pay zero corporate income taxes for years on end, average taxpayers are forced to pick up the tax burden,” said Sen. Carl Levin (D-MI). “It isn’t right, and we can’t afford it.” This tax preference for corporations costs the U.S. about $2 billion in revenue per year.

[...]

The right-wing has been lauding Facebook co-founder Edward Saverin for his decision to renounce his U.S. citizenship in order to avoid taxes. But he isn’t the only one who’s going to slash his tax bill in the wake of Facebook’s upcoming initial public offering: both CEO Mark Zuckerberg and the company itself will lower their tax bill for years to come.

[...]

[If] follows through on his plan to sell $5 billion in Facebook stock options, as the New York Times noted, he may then never pay a dime of taxes on the rest of his Facebook wealth.

[...]

Zuckerberg’s using a totally legal accounting gimmick to transfer money to his unborn children, thus avoiding the gift tax. He also — by virtue of accepting a $1 dollar salary and purely living off his wealth — could be eligible for the Earned Income Tax Credit, which is intended to benefit low-income Americans.

  Think Progress

...but hey, do what you want...you will anyway.