Meta classified Zuckerberg as a researcher to claim $355 million tax break on $4.1 billion pay, NYT reports - Tech Startups
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3 Articles
Meta classified Zuckerberg as a researcher to claim $355 million tax break on $4.1 billion pay, NYT reports - Tech Startups
Meta turned billions of dollars in Mark Zuckerberg’s stock compensation into a research tax break, arguing that its CEO’s work building Facebook qualified him for a federal government incentive for technological research. The company claimed roughly $355 million in tax […] The post Meta classified Zuckerberg as a researcher to claim $355 million tax break on $4.1 billion pay, NYT reports first appeared on Tech Startups.
Meta argues that part of Mark Zuckerberg’s stock options qualified as research wages and allowed him to claim $355 million in tax credits. The IRS rejected the position and a dispute over when the CEO’s work should be evaluated still awaits a court decision.
Meta Used Zuckerberg's Pay to Cut Its Taxes by $355 Million: Could Musk Do It Too?
Meta listed CEO Mark Zuckerberg as a researcher on its tax forms, cutting its tax bill by about $355 million. The Internal Revenue Service (IRS) says Meta got it wrong. The same rules now apply to a far bigger payday. In June, Elon Musk exercised Tesla stock options worth about $116 billion on...
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