Via CNN: Facebook the corporation looks like it might evade $14 billion in taxes because of a loophole that allows them to claim tax credit after the IPO. But the U.S. government and the state of California could earn from elsewhere, picking up a cool million on average from every employee that gets rich from the Facebook IPO. That’s about 45 percent of the cash many employees will come into squirreled away for state and federal taxes, according to the withholding amounts Facebook is budgeting, documented in their latest filing.
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