Facebook’s $9 Billion Tax Trial Wraps Until Early Next Year (1)

The Washington portion of Facebook’s tax battle with the IRS concluded on Monday after five days of testimony focused on the state of the company at the time it transferred various intangible assets to an Irish subsidiary.

The trial, which focuses on the company’s 2010 tax returns, is scheduled to pick back up on Jan. 18.

The key issue for the court to decide is whether Facebook paid its taxes based on what a company unrelated to Facebook—unlike the Irish subsidiary—would have paid for Facebook’s September 2010 platform technology, access to part of its user base, and trademark and ...