Practical and Practice issues for Professionals who practice in the area of taxation. Moral, social and economic issues relating to taxes, including international issues, the U.S. Internal Revenue Code, state tax issues, etc. Not for "tax protestor" issues, which should be posted in the "tax protestor" forum above. The advice or opinion given herein should not be relied on for any purpose whatsoever. Also examines cookie-cutter deals that have no economic substance but exist only to generate losses, as marketed by everybody from solo practitioner tax lawyers to the major accounting firms.
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CaptainKickback wrote:Okay, I will be the first to admit that the world of tax laws for large/huge corporations is a foreign world to me.
Long story short, taking advantage of the way tax laws are written, Apple managed to avoid income taxation on almost all of the money it made overseas.
I find it fascinating.
You omitted one word. Domestic operations were still taxed at the US 35% corporate tax rate.
It's not just the costs of labor and materials that make companies want to move large portions of their manufacturing operations to overseas locations.
"Never try to teach a pig to sing. It wastes your time and annoys the pig." - Robert Heinlein