Apple Stock price comparison versus The NY Times for the past 5 years.
Posted on 04/28/2012 3:38:31 PM PDT by Oldeconomybuyer
RENO, Nev. — Apple, the world’s most profitable technology company, doesn’t design iPhones here. It doesn’t run AppleCare customer service from this city. And it doesn’t 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.
Apple’s headquarters are in Cupertino, Calif. By putting an office in Reno, just 200 miles away, to collect and invest the company’s profits, Apple sidesteps state income taxes on some of those gains.
California’s corporate tax rate is 8.84 percent. Nevada’s? Zero.
Almost every major corporation tries to minimize its taxes, of course. For Apple, the savings are especially alluring because the company’s profits are so high. Wall Street analysts predict Apple could earn up to $45.6 billion in its current fiscal year — which would be a record for any American business.
(Excerpt) Read more at nytimes.com ...
good for them.
They already have to deal with the highest federal taxes in the civilized world.
Liberals talk a good game-- until it comes to their own money.
This kind of thing is the hallmark of a well run company.
I remember that their factory south of Sacramento had a rental space for people they got parts from. They never actually took delivery of a part until about 2 minutes before it got built into a Mac.
They observe incentives, then respond to those incentives.
ONLY bureaucrats are shocked by that —even kids running a Lemonaide stand learn this in one day.
Sure not going to cry about California missing out on some taxes. The state does nothing to earn them anyway.
The Slimes just couldn’t bring themselves to say “Legally Avoids” rather than “sidesteps”.Next we’ll find the government prevent Boeing from building a plant in....SOUTH CAROLINA!
“Liberals talk a good game— until it comes to their own money.”
BINGO. You hit the nail on the head. Conservatives were proven to be the ones who give more to charity but libtards are the stingiest when it comes to money. I work in L.A. and figured out for the longest time these clowns possess “rich man’s guilt”. That they cannot accept they got rich thru hard work and in order to appease that guilt, resort to lean left.
Can it be that leftie hypocrisy exists?
Jealousy reins at the NYT, where no one working there could qualify to be an Apple janitor.
Smart play Apple.
Where’s Congress and their rabid calls for a “windfall profits tax?” I’d say Apple warrants a communist tactic like this FAR more than oil companies do. Much higher profit margin.
Put it this way: everything we do outside California (living, working, running a business, investing) deprives California of the ability to tax us. In a sense we are all guilty of whatever problems California has because of their state revenue shortfall.
That explains it!
The NY homo liberals are jealous of the SF homo liberals.
Good idea for avoiding government theft.
Having stood at an Apple bar, I can tell you that their business model is the bomb.
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