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Submission + - 2 Billion Bill Handed to Zuckerberg From The IRS? (cnn.com)

smitty777 writes: Due to Facebook founder Mark Zukerberg's move to exercise stock options, he may be facing a tax bill as high as 2 billion dollars. He currently owns some 400 million shares, but has the option to buy 120 million shares more at the rock bottom price of .06 cents each. FTA: "The type of options Zuckerberg holds are taxable as ordinary income when they're exercised, even if the shareholder hangs onto the shares and doesn't sell them. That means Zuckerberg will owe taxes on the difference between what he pays for his Facebook shares — 6 cents — and their market value the day he exercises the options."
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2 Billion Bill Handed to Zuckerberg From The IRS?

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