Skip to comments.How Apple Sidesteps Billions in Taxes (Where's the "Fair Share" for Apple?)
Posted on 04/30/2012 3:24:33 AM PDT by tobyhill
Apple, the worlds most profitable technology company, doesnt design iPhones here. It doesnt run AppleCare customer service from this city. And it doesnt manufacture MacBooks or iPads anywhere nearby.
Yet, with a handful of employees in a small office here in Reno, Apple has done something central to its corporate strategy: it has avoided millions of dollars in taxes in California and 20 other states.
Apples headquarters are in Cupertino, Calif. By putting an office in Reno, just 200 miles away, to collect and invest the companys profits, Apple sidesteps state income taxes on some of those gains.
Californias corporate tax rate is 8.84 percent. Nevadas? Zero.
Setting up an office in Reno is just one of many legal methods Apple uses to reduce its worldwide tax bill by billions of dollars each year. As it has in Nevada, Apple has created subsidiaries in low-tax places like Ireland, the Netherlands, Luxembourg and the British Virgin Islands some little more than a letterbox or an anonymous office that help cut the taxes it pays around the world.
(Excerpt) Read more at nytimes.com ...
A corporation acting in its own self interest—imagine that? Waiting for Obama to demonize them for taking advantage of the rules. Probably never going to happen because Apple is too COOL.
I understand Microsoft does something like that. It’s software leasing office is in Nevada, I believe. And that is how most of their software is distributed, IIRC.
Guess someone at Apple has decided not to donate millions to Obama this election season. No other reason the Times would go after them unless the DNC is getting harmed.
Maybe Jobs's death will do some good there after all. Now to remove alGore from their board.