Mmastodon WorldUS Politics first seen 5 h ago, last 5 h ago, peak #10

Reports say Meta used 'pilot model' label to avoid billions in taxes

Original: "New reports reveal # Meta 🚨has been classifying gigantic # DataCenters as "pilot models" in order to secure a tax credi

Meta has reportedly been classifying its massive data centers as 'pilot models' to claim a tax credit dating from the 1980s. According to the reports, this loophole allowed the company to avoid paying nearly $4 billion in taxes last year alone. Tax credit experts say Meta is again entering legally choppy territory, and the findings are drawing criticism over how big tech exploits outdated tax rules.

Why now: New reporting on a multibillion-dollar tax avoidance scheme is fresh and politically charged.

MetaMeta data centersUS tax code

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Evidence

• "New reports reveal # Meta 🚨has been classifying gigantic # DataCenters as "pilot models" in order to secure a tax credit from the 1980s. Loophole: allowed Meta to avoid paying nearly $4B in taxes last yr alone." -HQs Tax credit experts said Meta was again entering choppy… · KimPerales@toad.social · 5

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