Economy
In reply to the discussion: Weekend Economists Examine Escape Artists and Con Men April 27-29, 2012 [View all]hamerfan
(1,404 posts)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.
http://www.nytimes.com/2012/04/29/business/apples-tax-strategy-aims-at-low-tax-states-and-nations.html?_r=1