From Dow Jones & Company:

Meta announced its first-ever dividend, causing a soaring stock price and a potential windfall of $700 million yearly for CEO Mark Zuckerberg. He stands to owe nearly $260 million in federal and state taxes on those dividends, making headlines at a time when Americans are filing their income taxes. The debate over how different types of income are taxed is reignited with this news, as tax rates on investment income are significantly lower than on wages. The preferential rates for qualified dividends mostly benefit the top 1% of taxpayers.



Read more: Mark Zuckerberg could pay millions in taxes to the IRS on Meta dividends