Every big company selling IT services or software plays shell games like this. Incorporate in a state with little to no B&O tax like Delaware, package any product in the state with no manufacturing or assembly tax, book all your sales from a state with no sales tax, send a large chunk of work out of country to a ‘lab’ where tax incentives may be had, but sourced through a subsidiary in a different country with favorable trade agreements to avoid paying tariffs or VAT, etc.
Microsoft got caught doing this with packaged software a long time ago, booking sales through Nevada to avoid paying WA taxes, etc
Add to that the tax incentives of hiring H1Bs, and now you know what the prerequisite to being a CFO at one of those companies really is about.
Visa’s subsidiaries CyberSource could have been a poster child for doing all of this, including blatant on-shoring, their IT staff is, or was, like 95% Indian twenty years ago, spreading business operations around the country, to Ireland, The Netherlands, India, etc, while their linked subsidiary Authorize.net just spread it around from their PO Box HQ on the east coast, through Utah, to WA State, and a few strategically placed execs with PO Box offices, and back around again.
It's so easy to say BILLION, but seriously, my mind is blown by the sheer volume of wealth that these people move around on the regular. And this is just for taxes due on what his sticky empire has taken in.
The IRS says META has avoided $15 billion dollars in taxes Facebook underreported $54 billion in taxes
Damn. Now imagine the total $ "Facebook" and "Mark Zuckerberg" (cough) have taken from We The People when you factor in all the "seed money" (black budget DARPA LifeLog money) that turned Facebook into the behemoth it is today.
We built Facebook.
We built the tools that spy on us all and rob us continually.
No $hit & water is wet. Its all being exposed but no one is paying it back. 2 of the past 4 years I had to pay chicken feed back (compared to zuk) to the govt & they were on me like white on rice.
Mamdami wants to tax the rich more.
See what the rich really do.
Zuck lives in CA.
My point is this is how they avoid taxs so Mamdami will have the same issue.
I thought Zuckerberg moved to Florida.
Oh. I got you.
Yes, he did move recently.
Cheers Fren 🍸.
Everyone leaving shithole California.
Yes.
Correct but that's not the point. California already has high taxes and look what Zuck is doing.
He doesn't pay, then he bailed.
Well, that's the fricking icing on the cake. Seeing all the massive laundering, and now massive tax fraud.
Good thing it's a multilayer cake lol
Of course it's only icing. Can I have some of the money now?
When will Zuck be arrested?
Never, the irs only cares about your $600 payments.
Every big company selling IT services or software plays shell games like this. Incorporate in a state with little to no B&O tax like Delaware, package any product in the state with no manufacturing or assembly tax, book all your sales from a state with no sales tax, send a large chunk of work out of country to a ‘lab’ where tax incentives may be had, but sourced through a subsidiary in a different country with favorable trade agreements to avoid paying tariffs or VAT, etc.
Microsoft got caught doing this with packaged software a long time ago, booking sales through Nevada to avoid paying WA taxes, etc
A commonly known version I always recalled was the double Dutch with an Irish twist, or *double Irish Dutch sandwich” - https://conversableeconomist.com/2024/09/12/the-double-irish-dutch-sandwich-end-of-a-tax-evasion-strategy/
Add to that the tax incentives of hiring H1Bs, and now you know what the prerequisite to being a CFO at one of those companies really is about.
Visa’s subsidiaries CyberSource could have been a poster child for doing all of this, including blatant on-shoring, their IT staff is, or was, like 95% Indian twenty years ago, spreading business operations around the country, to Ireland, The Netherlands, India, etc, while their linked subsidiary Authorize.net just spread it around from their PO Box HQ on the east coast, through Utah, to WA State, and a few strategically placed execs with PO Box offices, and back around again.
Oops!
I want my money back.
It's so easy to say BILLION, but seriously, my mind is blown by the sheer volume of wealth that these people move around on the regular. And this is just for taxes due on what his sticky empire has taken in.
Can you just imagine how a DARPA installed this one or was it CIA?
Scum. Confiscate his company, houses snd imprison him and his wife.
I think it's a movie.
If WE did that, we'd be under the prison.
Howls. Under the prison would correct.
Mark needs to be in jail
I think he is. This one is not him.
Damn. Now imagine the total $ "Facebook" and "Mark Zuckerberg" (cough) have taken from We The People when you factor in all the "seed money" (black budget DARPA LifeLog money) that turned Facebook into the behemoth it is today.
We built Facebook.
We built the tools that spy on us all and rob us continually.
Oh I know.
No $hit & water is wet. Its all being exposed but no one is paying it back. 2 of the past 4 years I had to pay chicken feed back (compared to zuk) to the govt & they were on me like white on rice.
Sometimes I think this are all a show. Go look at the 3 Zuckerbuck. They don't look the same.
(((Zuckerberg))) was money laundering?
You think?
Meh…. What are they going to do about it? Nothing!
So who cares. Until I see duck walks
More like pigs fly....
“Taxes are for the goyim”
Yes, we are slaves.
It was a quote from the Epstein files
Oh mine. I didn't know. Thinking about the Bible.
So $54 billion in income leading to $15billion in taxes?
thats not what was said.
you combined those two things into one sentence.
Only read the title and both $15 and $54b in underreported suggests that they said they paid less than they did, or was due.
Living in Palo Alto, CA is very expensive - he needed all the helps he could get.
That could build 2 walls!
The penalties are mounting up! What about the interest?