How Apple Sidesteps Billions in Taxes (3,830 words)
Source: New York Times
RENO, Nev. 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.
Read more: http://www.nytimes.com/2012/04/29/business/apples-tax-strategy-aims-at-low-tax-states-and-nations.html?pagewanted=3&_r=1&hp&pagewanted=all
onehandle
(51,122 posts)Apple is the top dog, so mediocre tech companies (all the rest) are less interesting in headlines.
Lars77
(3,032 posts)Response to Newsjock (Original post)
Tesha This message was self-deleted by its author.
brentspeak
(18,290 posts)Please point us the legal statue stipulating that.
Thanks in advance.
Response to brentspeak (Reply #3)
Tesha This message was self-deleted by its author.
brentspeak
(18,290 posts)Response to brentspeak (Reply #8)
Tesha This message was self-deleted by its author.
Pholus
(4,062 posts)You know, Tesha, that argument doesn't fly when Halliburton does it. It doesn't fly when Walmart does it.
It doesn't fly when Apple does it.
If that is truly what corporations are about then let's get to the point -- they need to end.
It doesn't matter what shiny i-doo-dad you worship, it's just wrong if that's the point.
Response to Tesha (Reply #2)
Post removed
Response to Post removed (Reply #5)
Tesha This message was self-deleted by its author.
marble falls
(57,097 posts)I accused you of nothing. I asked you a question.
Prometheus Bound
(3,489 posts)That would make virtually all Corporate Social Responsibility policies and programmes unlawful.
Good one!
Pholus
(4,062 posts)That's the usual response from this one when the advertising jingle gets skewered by cold, hard logic.
Response to Prometheus Bound (Reply #10)
Tesha This message was self-deleted by its author.
Pholus
(4,062 posts)Your description of the "responsibilities" of corporations and how those responsibilities do not extend to the society that gave the corporation "life" sounds like the gushing praise that Rand heaped on William Hickmann the serial killer. In short, your claims that corporations should only exist to do the bidding of the shareholders make them sound rather sociopathic. I don't like sociopaths -- their self interest is at odds with my continued health and well being.
A corporation in your view, like a shark, is merely a force of nature meant to make money and return it to a small group of investors. If it stole MY tax dollars to get started and then ran overseas before paying back the coffers or it gouges me with monopolistic practices or pollutes the gulf or becomes a band of mercenaries or exploits workers or screws people out of their retirements it's okay right? It's all because they exist to make a profit and nothing else.
You are forgetting the laws of society. Sadly, megacorporations seem to be able to buy those. After reading your collected works I understand that you do seem to consider the Corporation to be the replacement for the state -- a Phillip K. Dick future for us all I guess. You have often times waxed poetic about Apple going global and becoming a true transnational -- moving its manufacturing to its "new market" as "American exceptionalism" declines.
Sociopathic to say the least.