Posted on 04/30/2012 1:46:10 PM PDT by freedombiz
The New York Times reported Apple “paid cash taxes of $3.3 billion around the world on its reported profits of $34.2 billion last year, a tax rate of 9.8%.”
Further more, Apple’s federal tax bill likely would have been $2.4 billion higher last year without these moves, says the Times.
The fact remains Apple paid less tax than it would have otherwise had it not moved operations to low- or no-tax jurisdictions.
Good for Apple. Wouldn’t it be wonderful if we all had the same flexibility?
(Excerpt) Read more at orangepunch.ocregister.com ...
I believe Apple took all legal deductions and used them to their advantage——just like obama, buffet and romney.
Anytime you deny the government your hard earned money, I’d call it Genius Bar.
Hired Chinese instead of Americans. That's legal too.
It's just that in general Apple core supporters preach everyone must pay their fair share, Obama mmmm mmmm mmm.
I'm confused. I thought Apple moved some operations to Nevada to avoid California taxes. If Apple had had to pay the California taxes then presumably its profit would have been lower than it was. And I thought Federal Corporation taxes were based on profits earned by the corporation. So wouldn't Apple have paid LESS federal tax if it had kept those operations inside California?
ML/NJ
Just following the President’s lead.
Pray for America
Tax avoidance is NOT illegal or immoral. Tax evasion IS.
When FDR raised taxes the expected increase did not materialize. The US Treasury dragged any entity it could into court. Judge Learned Hand gave my favorite quote:
“Anyone may arrange his affairs so that his taxes shall be as low as possible; he is not bound to choose that pattern which best pays the treasury. There is not even a patriotic duty to increase one’s taxes. Over and over again the Courts have said that there is nothing sinister in so arranging affairs as to keep taxes as low as possible. Everyone does it, rich and poor alike and all do right, for nobody owes any public duty to pay more than the law demands.”
- Judge Learned Hand, Helvering v. Gregory, 69 F.2d 809, 810-11 (2d Cir. 1934).
Sorry about that. I really should read until the end of the thread, but I like your taste in quotes.
So the NYT doesn’t minimize its taxes within the law? Right. Pot meet kettle.
Taxes are paid on revenues, not profits
You are simply wrong. Check out this income statement for a NYSE company that has been losing money.
They obviously have revenues but the parentheses around the Income Tax Expense numbers indicate that for those periods they have a tax credit.
ML/NJ
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