offshoring revenues to favorable tax jurisdictions. Only they take it a step further, from the article: "Apple
relied on a 'complex web of offshore entities' and U.S. tax loopholes
to avoid paying billions of dollars in U.S. taxes on $44 billion in
offshore income over the past four years ... The maker of iPhones and
iPads used at least three foreign subsidiaries that it claims are not 'tax resident in any nation' to help it avoid paying billions in 'otherwise taxable offshore income,' the Senate Permanent Subcommittee on Investigations said in a statement yesterday." Now what about GE? Or the many other corporations that have been ruled to be "people?"
As the New York Times and others have well documented, GE has
employed a number of aggressive (and legal) strategies that have greatly reduced the company’s corporate tax burden.
Apple might be in a bit of hot water over its policy of
LOL! Even the Feds are having Tax problems...
"Location is everything when choosing the site of a data center.
Firms such as Microsoft and Google and Facebook spend a lot of time
looking into the costs of land, power, regulation and taxes before
placing their respective data centers in a particular place. Sometimes,
that local tax bill comes into play in a big way. Just ask the National
Security Agency which learned it faces a multimillion-dollar annual state tax on the power consumed by its new data center in Camp Williams, south of Salt Lake City. The Salt Lake Tribune obtained a series of email exchanges between the feds and the state,
with the NSA protesting a $2.4 million tax on its annual power
expenditure, pegged at about $40 million. Harvey Davis, director of
installations and logistics for the NSA, sent a letter (subsequently
quoted by the newspaper) to state officials that made the logistics
argument: 'Long-term stability in the utility rates was a major factor
in Utah being selected as our site for our $1.5bn construction at Camp
Williams. HP325 [the new law] runs counter to what we expected.'"
This would be the data center William Binney et al claim is logging almost all domestic communication.
To reduce his tax liability, Michael Chen, the owner of Fune Ya Japanese
Restaurant in San Francisco, hid cash transaction records in 26 boxes
labeled "Seasoned Octopus" in a crawl space under his restaurant and
pretended they were never made, according to the IRS.
Oh...Microsoft does it too
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