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Apple ‘Sidesteps’ Billions in Corporate Taxes, NY Times Reports
The New York Times accused Apple of “sidestepping” billions of dollars in taxes by setting up subsidiary companies in tax-free or low-tax states and countries. Apple, based in Cupertino, Calif., uses a small office in state-tax-free Nevada to manage and invest its profits, allowing it to bypass California’s 8.84% corporate tax rate. Apple’s Nevada-based subsidiary asset management company is called Braeburn Capital. Apple has taken its Reno approach worldwide, and the company’s ability to find legal tax loopholes around the world is functioning as a template for many transnational...
Published By: Mashable - Sunday, 29 April, 2012
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Tim Cook Speaks Out Ahead Of Senate Hearing On Apple’s Offshore Tax Practices appadvice (3 days ago) - As reported yesterday, Apple is set to be the target of a Senate hearing next...
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Tim Cook Defends Apple's Tax Record Ahead of Senate Committee Appearance [Updated] Mac Rumors (4 days ago) - Apple CEO Tim Cook, in a break from his predecessor, is giving a number of...
