Mon Jan 7, 2013, 01:29 PM
snot (9,120 posts)
How Apple's Avoiding Billions in Taxes
"With the U.S. Senate reportedly finishing an investigation into how Apple and others dodge taxes, and with Apple fighting for an officially sanctioned tax holiday, it’s worth taking stock of Apple’s tax liabilities. Dealing with the tax man, it turns out, could cost the company upward of $28.5 billion or send it on a shopping spree abroad.
Much more at Wired, at http://www.wired.com/business/2013/01/apples-28-billion-dollar-tax-war/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+wired%2Findex+%28Wired%3A+Top+Stories%29 .
7 replies, 756 views
How Apple's Avoiding Billions in Taxes (Original post)
|Nye Bevan||Jan 2013||#5|
|Nye Bevan||Jan 2013||#6|
Response to hft_trader (Reply #2)
Tue Jan 8, 2013, 09:43 AM
Dkc05 (341 posts)
3. No they can't but apple cheated 121 Billion from us.
That is real dollars that could be used for social programs.
It's now clear why Apple Inc. keeps a big chunk of its $121 billion overseas: The tech giant could stand to pay more than $28 billion in taxes if it brought that money back to the United States
Response to Dkc05 (Reply #1)
Tue Jan 8, 2013, 09:53 AM
Nye Bevan (16,574 posts)
5. They are not "cheating". What they are doing is 100% legal.
They owe no US taxes on profits accumulated abroad unless and until those profits are repatriated.
Response to snot (Original post)
Tue Jan 8, 2013, 10:11 AM
hfojvt (34,787 posts)
7. $45 billion in dividends over the next three years
and thanks to Obama's Second Cave, those $45 billion in dividends will be taxed at just 20% instead of 39.6% or even 35%. Supposing $20 billion of those dividends goto members of the top 1% that's a tax savings of almost $4 billion.