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This excerpt taken from the EBAY DEF 14A filed Mar 19, 2009. U.S.
Federal Income Tax Consequences and Other Tax
Consequences
The option exchange should be treated as a non-taxable exchange
for U.S. federal income tax purposes, and we and our
participating employees should recognize no income for
U.S. federal income tax purposes upon the issuance of the
new RSUs. Recipients of cash payments will recognize ordinary
income for U.S. federal income tax purposes on the date the
cash payments are made to them, and the payments will be subject
to applicable tax withholdings. The tax consequences of the
option exchange in foreign jurisdictions will depend on
applicable foreign tax rules and regulations but will be fully
disclosed to participants subject to the tax laws of foreign
jurisdictions as part of the offer to exchange options.
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