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Mark Zuckerberg Could Be Hit With $2 BILLION Tax Bill!
TWO BILLION DOLLARS IN TAXES?!?!?! WTF?!
When Facebook goes public, Mark Zuckerberg will be a billionaire, hands down.
But due to the fact that stock options are heavily taxed, the government will come down on Zuckerberg HARD!
Accountants state that the bill will be historic. They believe that shares will go at a premium of $40 a share, though Facebook values them at around $30.
When the IPO is over, Facebook will be worth $100 BILLION!!! Adding that fact to Zuckerberg's options that he plans to sell, he's raking in $5 billion.
This is where all that money hurts Zucky: With California's 10.3% income tax on those who make more that one million bucks combined with the marginal tax rate at 35%, the Facebook creator may have to pay between $1.5 to $2 Billion.
That's a lot of money; it might as well be a government donation!
We'll see what happens to all that cash!
P.S. CLICK HERE to "follow" Perez on Twitter!
P.P.S. CLICK HERE to "like" Perez on Facebook!
[Image via WENN.]
Tags: business, economy, facebook, government, ipo, mark zuckerberg, sell, stock, taxes
Glad We Came!
Sia Originally Wanted To Give Titanium Hit Away!
Meh. It isn't going to hurt him or the company.
So, why does he need so much money again?
Re: Baranged – because he earned it,not the government. you should be more concerned with how the government waiste the money they get from over taxation then how much a hard working person earns. if your life is a bummer its not his fault your lazy.dont worry about what other people have.work hard and get there yourself.
Perfect example of LIBERAL hypocrisy. You scream about the 1%, you defend liberals calling for higher taxes on the "wealthy" and then as soon as it happens to someone you like, you question the policy. I also have a hard time understanding how someone who sreams about "equality for all" wants people who have been successful(except Mark Zuckerburg) to be treated differently in what percentage they pay in taxes. So pick a fucking side & stick with it please!!!
big fucking deal, capitol gains 20% tax rate. have you never sold stock at a profit? dick head.
@EVERYONE - Perez never said anything about "oh that's not fair" or "this is not right!" or anything! He is just stating that Mark could owe up to 2 billion dollars & I think anyone would be interested/shocked by that. I don't know about you, but I've never heard of that happening! And no one said Mark wasn't going to pay or that he didn't think it was fair…
First off, I've never heard of anyone having to pay that much in taxes. Second, i'm with Perez. I'd love to see how CA ends up using that money. Sadly I'm sure it will end up like the rest of our tax money. Mismanaged, given to people who don't deserve it, raises/benefits for those in state government who are already clearly over paid and pampered, or just plain lost.